Athletic Bilbao have exercised their right to bring Mikel Balenziaga back to the club after two years at Real Valladolid.
The 25-year-old had a buy-back clause inserted in his contract when he left for pastures new in 2011.
The defender impressed during his time in Valladolid, helping them to comfortably preserve their La Liga status in 2012/13.
He will be back in the Basque country next term, with it reported that Bilbao have parted with around £255,000 to secure his services long-term.
"Athletic Club has decided to exercise the clause which allows it to re-sign Mikel Balenziaga, who has been on-loan at Valladolid," read a statement on the club's official website.
Balenziaga becomes Bilbao's second signing of the summer, and the second familiar face to return to San Mames.
Benat Etxebarria has already re-joined the club from Real Betis.
