Sheffield Wednesday have completed the first signing of the Arise era, subject to formalities.

Experienced defender Ricardo Santos has sealed a deal to sign for the club from Championship side Swansea City on an undisclosed fee. The Portuguese-born defender has played nearly 200 times at third tier level and is a former inclusion in the League One player of the season during his time with Bolton Wanderers.

The 31-year-old is set to arrive on a one-year contract, with a year’s extension clause existing in the club’s favour. The deal is subject to the formality of the payment of creditors as new owners Arise complete their successful exit from administration.

Speaking on the reasons for his move to Wednesday, Santos said: “Once I got the call from my agent telling me that Sheffield Wednesday was a possibility, I told him, make sure you get this done. There's so much I can say about the club. The support just drags players in. The fans are unbelievable, plus the manager’s energy and his ambitions.

“The club struggled last year and had its problems, but all of that is over now – as you can see by how many season tickets we’ve sold. Joining at this time, there is no better feeling for me.”

After months of preparation, transfer activity is understood to be accelerating at Wednesday after the arrival of Simon Wilson as sporting director. Wilson said: “Ricardo is a player we know well and someone with a strong track record of performing at the top end of League One. He brings important leadership qualities, having captained Bolton during his four seasons at the club, and his experience will be valuable to the group.

“He has the physical profile to cope with the demands of this division - pace, strength and aerial presence - while also possessing the technical quality to contribute in possession. We believe there is still room for growth in his game, and we’re excited to work with him.”