A year on from attaining his services on a loan basis, Espanyol have officially announced the signing of Diego Lopez on a permanent contract until June 2020.
The acquisition of the former Real Madrid goalkeeper was of paramount importance for the Periquitos and the club's board made sure that his contract includes a 50 million euro buyout clause.
Both Espanyol and Lopez had expressed their will to prolong their relationship, with the 35-year-old keeper pleased to get his future confirmed.
"It's a very happy day for me," he said. "We've only had one season [together], but it's been wonderful.
"I want to thank the club, the coach, the coaching staff, my teammates and the fans.
"I wanted to stay [at Espanyol], it was my priority."
Lopez will undergo a scheduled operation on his right knee on Tuesday after suffering an injury that has sidelined him for the past few weeks.