Atletico Madrid have agreed a fee with Porto for the signing of Brazilian defender Felipe Monteiro, the Portuguese club have announced.

The 30-year-old centre-back is set to move to Diego Simeone's Atletico after Porto confirmed the clubs had agreed a fee of €20million.

Felipe will boost Atletico's defensive numbers, with veterans Diego Godin and Juanfran and World Cup winner Lucas Hernandez all leaving the club this summer.

A statement on Porto's website read: "Porto hereby informs the market that it has reached an agreement with Atletico Madrid for the transfer of Felipe for the value of €20million."

Felipe joined Porto from Corinthians in 2016 and has made one appearance for his country.