Athletic Bilbao said today that they have exercised their buy-back option on defender Mikel Balenziaga to bring the 25-year-old back to the Basque country after two years with Valladolid.
“Athletic Club has decided to exercise the clause which allows it to re-sign Mikel Balenziaga, who has been on-loan at Valladolid,” a statement on the club’s website said.
Balenziaga has signed a three-year deal and will reportedly cost the club around 300,000 euros ($391,000, £255,000).
The defender impressed as Valladolid survived comfortably in their first year back in the top-flight last season and made 25 appearances for Athletic during his first spell in the 2008-09 campaign.
He becomes Athletic’s second signing of the week after Beñat Etxebarria also returned to Los Leones for around eight million euros following a four-year spell with Real Betis.