MADRID (REUTERS) - Barcelona on Monday (May 31) confirmed that Manchester City striker Sergio Aguero will join the club on July 1 when his contract with the losing Champions League finalists expires.

Argentina international Aguero joined City from Spanish side Atletico Madrid in 2011 and went on to become the club's all-time leading goalscorer, netting 260 times as he helped the club claim five Premier League titles, including last season's crown.

Barca have said that the 32-year-old will sign a two-year deal later on Monday, with a €100 million (S$161 million) buy-out clause, before talking to the press that evening.

Aguero is expected to be the first of a number of arrivals at the Camp Nou this summer as new president Joan Laporta looks to revamp a squad that could only finish third in La Liga.

Aguero's City teammate Eric Garcia has been heavily linked as a transfer target by local media, as have Dutch duo Memphis Depay and Georginio Wijnaldum.