The news finally announced on the official website yesterday.
Since the departure of Costel Pantilimon to Sunderland this was a move that had been widely thought would ultimately go through. I've mulled this over and I can't quite decide whether or not I'm in favour.
This isn't to cast doubt on the quality of Cabellero, who I've rarely seen play, but more how he fits into the dynamic at the goalkeeping position at the club. The deal, three years and around £4million or so (plus add-on's) isn't prohibitive but whilst it seems that Joe Hart will begin pre-season as the de facto first choice Caballero at some point is going to get his shot (even if he spoke more of 'hoping' to get the number one spot rather than 'expecting it).
For that kind of money and for a goalkeeper of his quality he hasn't been signed (or content to be) a Pantilimon-type, content to sit on the bench with a clear definition between first choice and back up. Although Hart redeemed his early season woes there was an inevitability that he would always return, Pantilimon not quite having the gravitas of someone who is a commanding first choice, yet perhaps he never truly convinced Pellegrini or his staff - hence the need to bring in a player with whom he has a familiarity (as he did with Martin Demichelis).
With the lack of rotation in the goalkeeping position I do feel that that a clear distinction between the two keepers is needed (much like with quarterbacks in the NFL) yet by significantly upgrading Pantilimon there is the situation where Pellegrini now has two genuine number ones at his disposal.
Hart may well begin the season as the man in possession but his grip on the position is far less tight than he would have hoped.