Everton have signed the former Rangers midfielder Mikel Arteta.

The Spain Under-21 international has joined from Real Sociedad on loan for the rest of the season, with Everton having the option to complete his signing for about £3m in the summer.

Chief Executive Keith Wyness: “We are all delighted that Mikel has agreed to join us and this is a real coup for Everton as there were a number of other clubs interested.

“David Moyes, Bill Kenwright and myself have been working behind the scenes on a daily basis attempting to strengthen the squad and the signing of Mikel, who is one of the best young prospects in Spain, is hopefully testament to that.”

Arteta underwent a medical at Bellefield on Saturday evening before flying back to San Sebastián to attend last night’s game against Villarreal.

Arteta returned to Spain last summer after a two-year spell at Rangers. The Scottish club signed him from Barcelona for £6m but recouped only £2.7m when he returned to Spain to join Sociedad.