Manchester City have signed 17-year-old right back Yan Couto from Cortiba for $16.5 million.

Barcelona had also been interested, though they only offered $11.3 million.

Couto will remain at Cortiba until he turns 18 in June.

Fernandinho has extended his contract with Manchester City by one year.

The 34-year-old defensive midfielder's contract was set to expire at the end of this season.

David Silva, also out of contract at the end of this season, is expected to return to Spain. 

Franco Jara has signed for FC Dallas as a designated player.

The 31-year-old will join Dallas from Pachuca during the summer window in July.

Jara has scored 76 goals and recorded 19 assists in 158 matches for Pachuca.

New York City FC have signed Gedion Zelalem, formerly of Arsenal and Sporting KC.

Zelalem appeared in 9 matches for SKC last season.

"Gedion is a very versatile midfielder who can play across multiple positions," NYCFC coach Ronny Deila said. "He's a creative player and possesses very good technique on the ball, which is vital for a midfielder in our system.

Ronny Deila has been named as the new manager of New York City FC.

"The group of players, as I've heard and as I've seen, have been there for a while and they're ready together. Just to build on that consistency and improving all the time, then I know also the result will come. To take the next step now, to win the title will be a big, big goal for me and for the Club," said Deila.

Deila previously managed at Valerenga and Celtic.

Real Madrid have agreed to sign Reinier from Flamengo when he turns 18-years-old for $33 million.

The deal will be completed on January 18th.

Reinier chose Real Madrid over Barcelona, Atletico Madrid, Manchester City, and PSG. 

Schalke keeper Alexander Nubel has agreed to a move to Bayern Munich this summer. 

The 23-year-old will go on a free.

Nubel will begin as second-choice behind Manuel Neuer, who is signed through the 2021 season.

Bayern sporting director Hasan Salihamidzic has reportedly asked Neuer to step aside for a couple matches next season to give Nubel playing time, though Neuer has refused thus far.

The Los Angeles Galaxy added Emiliano Insua from Stuttgart as an international player.

"Emiliano is an experienced defender who has played for decorated clubs throughout the world," said Galaxy general manager Dennis te Kloese.

Insua, who began his career at Boca Juniors, has also played with Liverpool, Atletico Madrid, and Sporting Lisbon.