Monaco agrees deal to sign Moutinho, Rodriguez from Porto

Monaco announced on Friday that the club has agreed to a deal with Portuguese champions FC Porto for the acquisition of both Joao Moutinho and James Rodriguez.

Monaco is being bankrolled by Russian billionaire Dmitri Rybolovlev, and after gaining promotion to Ligue 1 next season, the club has promised to add a number of significant signings this summer.

The additions of both Moutinho, 26, and Rodriguez, 21, are the first step in that process, with the duo joining the club on five-year contracts after helping Porto claim its third straight league title this season.

The deal is reported to be worth $90 million, while Monaco has also been linked with high-profile moves for forwards Radamel Falcao of Atletico Madrid and Manchester City's Carlos Tevez.