Liverpool to receive compensation after Joao Teixeira signs for Porto

Liverpool will receive £240,000 compensation for Joao Teixeira after the 23-year-old joined Porto, Press Association Sport reports.

The Portuguese club revealed on Monday that Teixeira had agreed a four-year contract to return to his homeland and the Reds have now officially confirmed the player will leave when his contract expires at the end of the month.

Teixeira originally moved to Merseyside from Sporting Lisbon in January 2012 and made his first-team debut as a substitute in a 3-2 victory at Fulham in February 2014.

He made seven senior appearances last season, scoring his first goal in a FA Cup third-round replay at Anfield against Exeter.

"The 23-year-old will officially be registered as a Porto player when his contract with Liverpool is complete on July 1 and the Reds will be entitled to a training compensation fee,'' said a statement from Liverpool.

Had Teixeira moved to another English club Liverpool would have been able to seek a higher fee closer to the midfielder's actual value at a tribunal, but a transfer overseas means they receive basic training compensation.