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Dortmund Says Mkhitaryan Arrival Ends $64 Million Spending Spree

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July 8 (Bloomberg) -- Champions League runner-up Borussia Dortmund said it will have spent almost all its 50 million-euro ($64 million) summer transfer budget by completing the signing of Armenian midfielder Henrikh Mkhitaryan.

Dortmund, which lost 2-1 to German rival Bayern Munich in the final of Europe’s top competition in May, said it agreed on the trade with Mkhitaryan’s club Shakhtar Donetsk, the Ukrainian champion, and has a “general agreement” on contractual terms through June 2017 with the 24-year-old.

Once Mkhitaryan formally joins, Borussia Dortmund will have “finalized its essential transfer activities in the summer period,” the club said in a statement. It didn’t specify the transfer fee for Mkhitaryan, although European soccer’s governing body UEFA said it was a reported 25 million euros.

His capture is a coup for the 2011 and 2012 German champion after he was linked to several teams including the English Premier League’s Liverpool. The Armenian national team player scored a championship-leading 25 goals in Ukraine’s top division last season and would replace Mario Goetze, the attacker who quit for German champion Bayern at the end of last season.

Since then Dortmund, managed by Juergen Klopp, has added Greek defender Sokratis Papastathopoulos and Gabon national team forward Pierre-Emerick Aubameyang.

“In the course of the ordinary execution of these transfers, Borussia Dortmund will have almost spent the available investment budget in the amount of 50 million euros,” Dortmund said.

To contact the reporter on this story: Tariq Panja in Rio de Janeiro at tpanja@bloomberg.net

To contact the editor responsible for this story: Chris Elser at celser@bloomberg.net

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