It's Official: Montero Signs As 3rd DP

We had a good idea that this was what was coming, but there are a couple of revelations. First, he will be our 3rd DP, meaning the club has paid the one-time luxury tax to the league to buy the spot. This means that the club will have the option of having 3 DPs indefinitely (pending future rule changes). Second, the transfer from Deportivo Cali is now fully completed. This might have already been known, but I think there was some ambiguity as to whether MLS had his full rights or not. It's not indicated whether there was any additional transfer fee to make that happen. And also not released are any terms (like the salary, length of the deal, etc) as is typical with MLS contracts.

Jeremiah was at the presser and should have some first-hand details shortly, but in the meantime here's the full release from the team:

Fredy Montero Signs Extension, Transfer Completed

Forward Becomes Third Designated Player for Sounders FC

RENTON, WASH. - The Seattle Sounders FC has signed forward Fredy Montero to a contract extension and completed the permanent transfer of his contract to the club and Major League Soccer, qualifying him as the club's third Designated Player. Per MLS and club policy, terms were not disclosed.

Montero, 23, has finished as the Sounders FC Gold Boot honoree in scoring each of his two seasons, totaling 22 goals and 17 assists in 56 league appearances. Only two other players-Conor Casey and Jeff Cunningham-have totaled more points the past two years.

Montero is a two-time MLS All-Star selection and was voted the 2009 MLS Newcomer of the Year after scoring 12 goals. He has made four appearances for the Colombia National Team.

"I am happy and proud to be a part of Sounders FC. This is a good contract, but my goals are not complete and I aspire to grow as a player and get better," said Montero." Everything we have achieved has been through hard work, and there is still work to be done to realize our dreams."

"This team has made a name for itself from the first match. That's because of the fans, first and foremost. The owners, the coaches, the players and the people who work outside the lines--we are all on the same page. We have been in existence for only a short time but with the quality of players we have on this team, our aim is to win an MLS championship."

This past season Montero was one of two players to finish among the MLS top ten in both goals (10/tied for 10th) and assists (10/tied for fifth). He became the second-youngest player in league history to achieve a double-double in goals and assists. Montero also tied for fifth in game-winning goals (4). He was fourth in both shots attempted and fouls suffered.

"Fredy possesses some unique talents," said Head Coach Sigi Schmid. "He is growing and maturing as a player who can make a difference for Sounders FC in our quest for more trophies. He is a special player who is still developing, but also a player who has been instrumental in our success these last two years. I am happy and look forward to continue our relationship and being able to coach Fredy here in Seattle."

His nine consecutive matches with either a goal or an assist from June 5 through August 8 was the longest in the league this season. In addition, he scored the winning goal in Seattle's first competitive international match, a 1-0 win over El Salvador's Metapan, and in 2009 he scored the first goal in 2-1 victory over D.C. United in the Lamar Hunt U.S. Open Cup Final.

"Fredy has become a key component to this team's success," said Owner and General Manager Adrian Hanauer." He is only 23 years old, and has the potential to become one of the best players in MLS. The next step for Fredy is to help Sounders FC win the MLS Championship. I know that is what Fredy is striving for, as well."

Montero received his Green Card earlier this month, granting him permanent resident status in the U.S. A native of Barranquilla, Colombia, he was originally signed on loan from Deportivo Cali in January of 2009.

Transaction: Seattle Sounders FC (MLS) - Completed transfer of F Fredy Montero and signed to contract extension