Man United '€6m' transfer confirmed as Benfica sign ex-Preston North End loan star

Ex-Preston North End loan star Alvaro Fernandez has signed for Benfica on loan from Manchester United.

The Spaniard, who made 42 appearances on loan at Deepdale last season, saw his loan spell with Granada cut short this month. Fernandez made 14 appearances for the La Liga side and will now spend the rest of the campaign playing at the Estádio da Luz. Benfica sit second in Liga Portugal, one point behind leaders Sporting.

A permanent move to Benfica had been touted, but it is claimed that the Portuguese giants have an 'obligation' to buy Fernandez for €6million - rising to €9m - if he plays 50 per cent of matches between now and the end of the season.

Benfica are also said to have an option to buy the left back, if the obligation threshold is not reached. In addition, United have reportedly inserted a buy-back option and sell-on clause. The former Real Madrid youngster's contract is up in the summer as things stand.

After his recall from Granada, Fernandez posted on Instagram: "My stay in Granada was special but not as long as we all hoped. It was a real pleasure to represent this club and I will always be grateful to the fans and the club in general, but above all to the people who spend day to day with me taking care of me and supporting me since day one.

"We wanted the season to be more successful, but we shared some amazing memories and I will always remember my time at the club as an important part of my career. I wish them all the luck for the rest of the season. I know this group and our loyal supporters have the attitude and the fight to stay on our feet this season and meet the goal."