Swansea City have wrapped up the signing of goalscoring midfielder Michu from Rayo Vallecano for a fee of around £2million.

Laudrup delighted to capture midfielder from Vallecano

Fantastic

Swansea City have wrapped up the signing of goalscoring midfielder Michu from Rayo Vallecano for a fee of around £2million. Michu becomes new manager Michael Laudrup's third signing following the arrivals of Chico and Jonathan de Guzman, and has agreed a three-year contract at the Liberty Stadium. He scored 15 goals in La Liga for Vallecano last season and had been linked with a move to the likes of Manchester United and Liverpool. After failing to secure a permanent deal for Icelandic midfielder Gylfi Sigurdsson, who has joined Tottenham, Laudrup is delighted to have snapped up Michu for such a bargain price.Laudrup said: "It's a fantastic signing. We are talking about a player who scored 15 goals in the Spanish league last year for a small club, who were saved by the bell in the last minute of the last game to avoid relegation. "He was a big difference for them with his goals. "We lost (Gylfi) Sigurdsson, who played in that position for half a season, so to sign a player like Michu is fantastic for us when you look at the price and quality of the player. "It is a bargain. "When you see the big newspapers in Spain and people commentating on how we can sign a player like that for such a small amount of money, then the Spanish economy must be really bad. "It's a very difficult moment for clubs in Spain in general and this signing shows that."