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Leicester splash $29M to sign Porto, Portugal RB Pereira

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The summer transfer window only opened on Thursday, and Premier League clubs are already handling their pre-World Cup business — perhaps in an attempt to avoid the post-tournament inflation of fees and wages.

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Leicester City announced on Saturday that Porto and Portugal right back Ricardo Pereira is moving to the King Power Stadium for a fee of $29.5 million. Pereira, 24, was named to Portugal’s 23-man squad for next month’s World Cup in Russia, where a strong showing could have easily lifted his price tag closer to $40 million and added another $10,000 to his weekly wages.

Having been linked with a move to Tottenham Hotspur just last summer — he seemed a natural replacement and reinvestment following Kyle Walker‘s move from Tottenham to Manchester City — ninth-place Leicester will rightly feel Pereira’s arrival is something of a massive coup for the club, given his considerable European experience — both in the Champions League and Europa League — so early in his career.

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Pereira previously played for current Leicester manager Claude Puel while on loan to Ligue 1 side Nice (2015-16 season), and has his new boss’s seal of approval.

“I’m delighted to have a player of Ricardo’s quality on board for next season,” Puel told the club website. “I remember him well from my time at Nice.”