The Portuguese international striker will cost the Madrid giants cost Atletico 20 million euros and will sign a five year deal.

"I am very happy to be coming to Atletico Madrid," said 27-year-old Simao. "I hope to do great things here."

The deal sees two Atletico players heading in the opposite direction and they could be Costinha and de Ze Castro.

Simao is one of the most imminent Portuguese players and has received many offers during the past few years but they were all turned down by Benfica.

But finally the club had to respond to the player’s demands, according to Benfica chairman.

The 27-year-old winger is no stranger to Spain having played for Barcelona from 1999 to 2001.