Official: Grêmio star Pepê to join Porto in the summer. | OneFootball

On Thursday, Grêmio announced details of a big transfer business. Eduardo Gabriel Aquino Cossa, commonly known as Pepê, will officially join Portuguese giants Porto.

The 23-year-old will join Porto on a five-year deal and will leave Grêmio in June. It means the Brazilian will still take part in the Brazil Cup finals against Palmeiras. Both games will take place on February 28 and March 7.

For the move, Porto will cough out 15 million euros (about R $ 98.1 million) to sign Pepê. Of that transfer fee, Grêmio will only get 10 million euros, with the remaining of the transfer fee going to Foz do Iguaçu. The Parana based outfit own 30% of the player’s rights.

In addition, Tricolor would be entitled to about 12.5% of a future sale, if Pepê is sold for more than the current transfer fee.

Quite notable is the fact that Porto made mention of a 70 million euros (about R $ 458 million) release clause in the forward’s contract.

Grêmio will get their share of the transfer fee in four installments between June and August 2021 as well as in January and June of 2022. On the other hand, Foz do Iguaçu will get their percentage of the transfer fee in August 2022.

Pepê’s contract with Gremio was to expire in 2024 but it was more or less expected that the forward will secure a move to Europe sooner or later.

So far this season, he has scored nine goals and recorded eight assists across 36 games in all competitions.

The move will be the fourth biggest transfer in Porto’s history, only behind moves for Óliver Torres, Imbula and veteran Brazilian Hulk.