( CNN ) -- Manchester City just ca n't stop spending money as the English Premier League champions have forked out a reported $ 53 million to sign France international defender Eliaquim Mangala from Portuguese club Porto . Mangala 's transfer , confirmed Monday , comes just three months after City was heavily sanctioned by European football body UEFA for breaching new rules on Financial Fair Play . Whatever the deal 's financial implications , City manager Manuel Pellegrini believes the 23-year-old Mangala has `` all of the mental , physical , technical and tactical attributes to become one of Europe 's very best defenders . '' Pellegrini added on the City website : `` Eliaquim is a player I believe will make an immediate impact in the Premier League , thanks to his physicality , his reading of the game and quality on the ball . '' Mangala , who began his professional career at Belgian club Standard Liege , was part of France 's 2014 World Cup squad but did not play in any games . `` For me , it was an important step to leave Porto and join Manchester City in order to continue my progress . I want to win titles and I believe I can do this . I am ambitious and this is why I am here , '' Mangala told the City website . In May , the English champions accepted a UEFA fine of â‚¬60 million ( $ 82 million ) , a restriction on transfer spending and a reduction in the club 's squad size for the European Champions League . Mangala is City 's fifth permanent signing since last season , following his former Porto teammate Fernando -- who cost $ 20 million -- to England . Argentine goalkeeper Willy Caballero joined for a reported $ 10 million from Pellegrini 's former club Malaga , while compatriot Bruno Zuculini was acquired for $ 5 million from Racing Club . Mangala 's fellow France World Cup teammate Bacary Sagna moved from Arsenal on a free transfer , while veteran midfielder Frank Lampard will play on loan from City 's American feeder club New York City FC . City 's only sale since last season has been midfielder Jack Rodwell 's $ 16.7 million departure to Sunderland , while veteran midfielder Gareth Barry joined Everton on a free transfer . Read more : Arsenal beat Man City in EPL curtain raiser . Read more : Pelligrini wants to build 'dynasty '
Manchester City sign French international defender Eliaquim Mangala . The 23-year-old joins from Portugal 's Porto . TL;DR Chelsea have signed Brazilian midfielder Willian for a fee of £25m.