Porto president Pinto Costa has labelled the signing of Iker Casillas from Real Madrid last summer as "a complete fiasco", admitting that he is looking to offload the keeper.

Casillas made an emotional departure from the Bernabeu in July when saying goodbye to the club that he had spent more than nine years playing for.

Despite landing a highly-valued stopper, Costa insists that the move has turned out disastrously and is fast becoming untenable due to the inflated wages on offer to the 34-year-old.

Speaking to Portuguese news website El Confidiencial, the Porto chief said: "Iker has not lived up to any of the expectations we had, what's more he has cost us games, the league and a premature exit from the Champions League.

"His salary is unaffordable for the club. If he goes to the US, because they have told me that New York City wants him, it will be the best transfer we have done.

"The signing of Casillas has been a complete fiasco. Casillas was offered by his agent, who conveyed to us that he wanted to continue playing at the highest level and come to Porto as their number one choice if we would be interested."

Casillas is still in contention to be named as Spain's first-choice keeper at Euro 2016 this summer.