Reports on Tuesday suggested that the Basque outfit had closed a deal for the 26-year-old for a fee of around €8m.
Whilst the amount is still unspecified, Athletic have now made official the news that the midfielder has returned to the club, who he was released from in 2009 having managed just a single senior appearance.
“Athletic Club and Real Betis communicate that a deal has been reached to transfer Benat Etxebarria to our organisation,” Athletic’s statement read.
“The player will sign for five years with Athletic and be officially presented on Thursday, June 27 at 5pm.”
Benat was widely expected to leave Betis this summer, having failed to reach agreement on a new contract, with his current one expiring in June 2014.
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