The five-year contract for Ferreyra was announced on the same day Shakhtar's Armenian international attacking midfielder Henrikh Mkhitaryan was officially unveiled as a Borussia Dortmund player.
"Velez Sarsfield play in a similar style to Shakhtar, so it will not be a problem to adjust here," Ferreyra was quoted as saying on the Ukrainian champions' website.
Ferreyra, who scored 31 goals in 80 Argentine first division games for Velez and previous club Banfield, admitted he was delighted to have an opportunity to compete in Europe's premier club competition.
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"I have been dreaming of testing myself in the Champions League since I started playing football," he said. "That dream will soon become a reality."
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