Sat Jun 28 20:05:02 2008

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City close to $38 million deal for Brazilian Jo

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Manchester, England (Sports Network) - Manchester City are set to finally complete the signing of striker Jo, having agreed a nearly $38 million fee for the Brazilian with CSKA Moscow.

The 21-year-old has been on the Citizens' wanted list since the end of last season, but doubts over a possible third-party ownership situation had held up the deal in recent weeks.

However, an agreement has now been reached between City, CSKA and Jo's former club, Corinthians.

Citizens executive chairman, Garry Cook, had earlier commented: "Jo is a player who interests us and we are currently in discussions with CSKA Moscow and his representatives.

"We are hopeful of progress and we are keeping in contact with the Premier League on the (third-party) issue.

"Manchester City are fully aware of the rules regarding third-party ownership of players and any transfers will be completed under Premier League regulations."

(Courtesy of sportbox.tv)