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Leaders took advantage of the opportunity to acquire attacking midfielder Sergio Canales, who wore the team's jersey last season on loan.
The "Bat" will pay 12 million euros for the 21-year-old footballer from Madrid, and they will have the option to buy the Spaniard for 18 million euros.
The unsuccessful 2011-2012 season did not scare the new Valencia coach Mauricio Pellegrino, despite Canales playing only 11 matches due to injuries while representing various age group national teams.
Born in Santander, the youngster moved from his native team Racing to the "royal" club in 2010 for a sum of 6 million euros.
This is the second Real Madrid player to move to Valencia during this transfer window - before that, defensive midfielder Fernando Gago arrived at Mestalla.
