BARAJA BREAKS VALENCIAN RECORD
The move breaks Valencia's transfer record that had been held by Argentinian striker Ariel Arnaldo Ortega, for whom Valencia paid 1,735 million pesetas (£6.44 million) in 1997.
On Tuesday the club revealed that they had paid the buy-out clause in Baraja's contract which would allow him to sign a seven-year contract with Valencia.
Baraja said: "It is an important challenge for me to play in a team which reached the final of the Champions League last season."
Having joined the club in 1996 from Valladolid, Baraja's breakthrough season came last year after he spent three years in the reserves.
Click here for our story where Baraja states his intention to stay in Madrid.