Sporting exercised its option to buy Montero on permanent transfer. The Sounders will receive a transfer fee.
“Fredy has been and will always be a special member of our family,” general manger Adrian Hanauer said in a news release. “Fredy had a wonderful career in Seattle and is continuing that success overseas. ... We wish him well with this next chapter of his career.”
Montero, 26, is Seattle’s career goals leader with 47 goals in MLS and 60 over all competitions. He also holds club records with 23 game-winning goals and 12 game-winning assists across all competitions.
He joined Seattle before its 2009 expansion season, was named MLS newcomer of the year, and became a three-time All-Star.
He currently leads Lisbon with 19 goals in 20 games across all competitions, and leads the Portuguese Liga with 13 goals.
He joined Sporting on loan from Millonarios FC in his native Colombia.
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