SAO PAULO, Brazil (AP) - Corinthians and its partner Media Sports Investments have signed a letter of understanding with River Plate to acquire Argentine midfielder Javier Mascherano, the Brazilian team said on Monday.
Kia Joorabchian, president Media Sports Investments, signed the letter in Buenos Aires over the weekend, Corinthians spokesman Luciano Signorini said by telephone.
Signorini said the document stipulates that Mascherano would play for Corinthians for five years. He would not say how much money was involved, but did not deny press reports that said Corinthians will pay US$15 million (?11.9 million) for Mascherano.
According to Signorini, Mascherano will join Corinthians by the end of July, "at the very latest." He did not know when the final contract was expected to be signed.
Mascherano will be the third Argentine player to be signed up by Corinthians this year.
In January, the Brazilian club acquired all-star striker Carlos Tevez of Boca Juniors for more than US$20 million (?15.2 million) and Sebastian Dominguez of Newell's Old Boys for US$2.5 million ?1.89 million).
