Spain striker Costa completes move to Chelsea

Spain striker Diego Costa has formally completed his move to English Premier League team Chelsea from Atletico Madrid.

"Chelsea Football Club is delighted to announce Diego Costa has today (Tuesday) completed his transfer from Atletico Madrid by signing a five-year contract," the London club said in a statement Tuesday, reports Xinhua.

Chelsea met the buy-out clause for the Brazil-born forward and paid a reported transfer fee of around $55 million.

Costa, 25, scored 35 goals for Atletico last season as they won the Spanish title and reached the Champions League final, only to lose in extra-time to city rivals Real Madrid after they had defeated Chelsea in the semifinal.