Swansea has completed the signing of midfielder Michu from Spanish club Rayo Vallecano for 2 million pounds ($3 million).

The 26-year-old Michu, who scored 15 goals in La Liga last season, has signed a three-year deal, subject to international clearance.

He's the third signing for new coach Michael Laudrup after the arrivals of midfielder Jonathan de Guzman on loan and central defender Chico for 2 million pounds.

Rayo Vallecano is believed to have accepted a cut-price deal for Michu because of its financial troubles.