Velez Sarsfield has announced it has reached an agreement with Inter Milan for the transfer of Ricardo Alvarez to the Italian outfit.

The 23-year-old attacking midfielder had reportedly been a target of Arsenal and Roma, but will move to the San Siro outfit in a £10million deal.

A statement on Velez's website read: "Velez Sarsfield Athletic Club announces that it has reached an agreement with the authorities of FC Inter Milan for the transfer of our player Ricardo Alvarez."

Alvarez's arrival will please Inter coach Gian Piero Gasperini, who spoke of the South American during his unveiling to the media Tuesday.

He said: "Alvarez is a great player. If he came to Inter, he'd be an important reinforcement."