Teixeira is Porto's first new signing

Portuguese midfielder Joao Teixeira, 23, is the first signing for Porto for next season after completing his contract with Liverpool.

"I'm extremely happy. It was a dream of mine to play for this great club. I had the ambition of wearing this jersey, as I got used to watching FC Porto win titles every year," Teixeira told the club's website.

"I hope everything turns out great and I want to do my best," he added.

The player took part in just seven games with Liverpool last season and now returns to his native country in search of more minutes.

Teixeira was transferred to Liverpool in the summer of 2011 and played on loan with Brentford and Brighton & Hove Albion.