Milan signs Maxi Lopez

Milan revealed in a statement that it has the option to gain Lopez's full rights at the end of the season, and that the forward has signed a contract through 2015.

Milan had been hoping to sign Tevez from Manchester City.

Milan vice-president Adriano Galliani had several meetings with Tevez in the past month and had reportedly reached an agreement with Tevez, but a deal couldn't be reached with City.

Tevez has not played for City since he refused to warm-up during a UEFA Champions League game against Bayern Munich in September.

Galliani said he came close to signing Tevez earlier on Friday evening.

"We were very close with City. If at 6:30 someone had asked me who was going to come to Milan, I would have responded 'Tevez,"' Galliani told Milan's TV station.

"Anyhow we left things very nicely with City and we've gotten over the misunderstandings."