Newcastle United have confirmed they will sell Hugo Viana to Valencia for just £1.2 million, a huge loss on the fact that he cost the Magpies £8.5 million. 

Hugo arrived at St. James Park in the summer of 2002, when Sir Bobby Robson was boss, but failed to establish a first team place and so went on loan to Valencia. 

He has not featured regularly in Spain either, but reports have claimed that he has done enough to earn a deal. 

£7 million has been lost in the deal, as Viana originally cost the Magpies £8.5 million, but is going to Spain for just £1.2 million. 

"Viana has great potential and is a very interesting player for us. He is a young player who will play at the World Cup and because of that we decided to close the transfer now," said Valencia director of sport Javier Subirats.