"FC Porto have reached an agreement with Juventus Football Club for the permanent transfer of the sporting registration rights and 100 per cent of the economic rights of Francisco Conceicao for a fixed sum of 32 million euros," Porto's official statement read.
"FC Porto also informs that Francisco Conceicao has waived, in the context of this transfer, the right to receive 20% of the net amount of the transfer, so FC Porto will guarantee the full 32M and achieve a total cash inflow of 41.5M, adding the amount of 9.5M as a loan for the player in the 2024/25 season," the statement continued.
Initially, the Italian club sought a phased payment over five years, which Porto rejected. According to Flashscore sources, this payment will be made over four years.
However, in order for the proposal to be accepted, FC Porto gave Conceicao a deadline to give up the 20 per cent share of the transfer that was stipulated in his contract, which would be equivalent to six million euros.
The Portuguese international ended up accepting the Dragons' conditions in order to return to Juventus, now permanently. For Juve, the left-footer scored seven goals and provided four assists in 40 appearances last season.