Hercules says Kiko Femenia will join European champion Barcelona in a ?2 million ($2.9 million) transfer.

The recently relegated club says it could earn another ?1.5 million ($2.15 million) through the deal, with the 20-year-old Kiko joining the three-time defending Spanish champion on a three-year contract.

Kiko came through Hercules' youth ranks and plays for Spain's under-20 team. He scored once in 34 league appearances last season.

Barcelona sporting director Andoni Zubizarreta says Kiko will divide his time between the first team and the reserves.

Barcelona is reportedly negotiating with Arsenal for its captain Cesc Fabregas, and Zubizarreta said ''before we had ?45 million for transfers, now we have 43.''