Llorente has been negotiating with Juve for some time with his contract in Bilbao coming to an end.
The Italian champions confirmed the news, posting a message on their website saying: “The future of Fernando Llorente is black and white.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.