Newcastle United completed the signing of Paraguay international Miguel Almiron from Atlanta United.

The fee for the player is believed to be in the neighbourhood of £20 million, which would beat the club's highest ever transfer fee, topping the £16 million paid to Real Madrid for Michael Owen in 2005.

"I'm very happy and eager to start and to meet my new team-mates," Almiron said in a release. "The league is very competitive, this is a historic club, and Rafa Benitez himself were the main reasons why I am here now. I think it is a great responsibility, something beautiful for me, and I will try to offer the best I can to repay the trust the club put in me."

A two-time All-Star, Almiron finished as runner-up to teammate Josef Martinez in MLS MVP voting this season. The 24-year-old has 21 goals and 28 assists in two seasons with the MLS Cup champions.

The club also announced the loan signing of former Italy U-21 defender Antonio Barreca from Monaco.

"I know that Newcastle is a big and historic club," Barreca said in a statement. "I know that the people here really love football and that the fans are really behind the team."

The deal includes an option to buy at season's end.