Atletico Madrid have decided to exercise their option to buy Pizzi from Sporting Braga, reports AS.
The Portuguese striker is currently on loan at Deportivo de La Coruna after spending last term at the Vicente Calderon under a similar arrangement, making 11 La Liga appearances and scoring one goal.
However, Pizzi moved to Riazor at the start of this season but the Madrid club will exercise their right to buy the player back for €13.5m at the end of the 2012-13 campaign, when he will pen a four-year contract with Diego Simeone’s men.
The 23-year-old has made just two League appearances for parent club Braga and is no stranger to loan deals, having also been farmed out to Ribeirao, Covilha and Pacos Ferreira for the last four seasons.
It is believed that the fee for Pizzi – real name Luis Miguel Alfonso Fernandes – will be paid in instalments over the next four years.