The Basque moves to Valencia on-loan for the remainder of the season.
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The agreement was reached after three-way negotiations between Celta Vigo, the club that owns the player's rights, Hellas Verona, where he was on loan this season, and Valencia themselves.
Núñez, 28, arrives to bolster a defence weakened by Mouctar Diakhaby's serious injury and a lack of depth centrally.
According to Marca, the signing fits the profile that coach Carlos Corberan was looking for: an experienced centre-back, available immediately, and with good match fitness.