Parma have completed the signing of Juventus midfielder Sebastian Giovinco. Pietro Leonardi, Parma's sporting director, announced the deal yesterday.

"Giovinco is now a Parma player and we are very happy," Leonardi told Sky Sport Italia.

"It is a loan with the right to buy up half his contract. There will be no need to negotiate with Juventus next summer, as the buy-out price has already been decided.

Giovinco had also been heavily linked with Bari, who publicly courted the trequartista.

"Our Coach Pasquale Marino is enthusiastic about this player, but never wanted to say so publicly," continued Leonardi.

"We wanted to work in the shadows while possible, as he really will improve our squad a great deal.

"I've known him for some time and I'm sure he'll do some remarkable things here.

"Both Alessandro Diamanti and Hatem Ben Arfa are good players, but considering the characteristics of the side, Giovinco was the absolute best we could want.

"I think that with Giovinco we can say our transfer market is effectively closed."