Atletico Madrid have confirmed the signing of Brazilian left-back Filipe Luis from Deportivo La Coruna.

Filipe underwent a medical on Friday and was reported to have signed a contract later in the day to seal a move to Madrid following four years at Deportivo, but Atletico only made the transfer official at a press conference today.

Filipe, who arrives in a deal thought to be worth 13.5million euros, was also paraded in front of around 300 fans at the Vicente Calderon.

The 24 year-old almost signed for Barcelona last summer but Deportivo demanded 20million euros for the full-back and the Catalan club ended up signing Maxwell from Inter Milan instead.

The player then suffered a serious injury to his right fibula in a match against Athletic Bilbao last January and only returned just before the end of the season.

That, however, was too late for the player to seal a place in Brazil's World Cup squad.

Filipe, capped just once by Brazil, made over 100 appearances for Deportivo in four years at the Galician club.

His sale will allow the club to pay off the four million euros owed to midfielder Sergio Gonzalez in unpaid wages.

Failure to pay that debt by August 2 could have seen Deportivo punished with relegation.

Deportivo also owed Atletico close to 2million euros for the transfer of defender Ze Castro last year.

Filipe, meanwhile, is delighted to finally seal his move to Atletico.

"It has been a very complicated operation," he told reporters during his presentation.

"I am happy because this is a great and historic club in Spanish football."

Filipe had a spell at Real Madrid as a youngster, but says he has always admired Atletico.

"Real Madrid opened the doors for me to Spanish football, but I have always had affection for Atletico," he said.

The full-back claims he is not concerned to have missed out on a move to Barcelona either.

"I didn't have to choose between Barca and Atletico - I simply chose Atletico," he said.

Having completed his move, the Brazilian is eager to play alongside Uruguay striker and World Cup Golden Ball winner Diego Forlan, as well as working under coach Quique Sanchez Flores.

"I am excited by the team they (Atletico) are putting together. We have the best player from the last World Cup (Forlan) and a great coach (Sanchez Flores). To grow as a player it is key to work with the methods of a coach like Quique," he explained.

Filipe is Atletico's fourth signing of the summer, following the arrival of Fran Merida from Arsenal and the buy-back deals for Mallorca's Mario Suarez and Valladolid's Diego Costa.

The club are also reportedly in negotiations to sign Uruguay defender Diego Godin from Villarreal.