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West Ham have signed Manuel Lanzini on a permanent contract.
Lanzini joined West Ham on a loan deal from UAE outfit Al Jazira Club in July 2015, with the agreement including an option to buy the player.
Manager Slaven Bilic has been impressed with the 23-year-old during the course of the season and he has activated the clause to ensure Lanzini remains with the club.
Co-owner David Sullivan confirmed the news when he was asked about the possibility of West Ham qualifying for the Champions League by finishing fourth.
"I know it’s worth about £9.4m,” Sullivan said. "And you can hardly get a player for that!
"We’ve just signed Lanzini on a permanent deal for that sort of money."
Lanzini has scored seven goals in 24 appearances this season, including one against Chelsea in Saturday's 2-2 draw.