Real Madrid have confirmed the signing of youngster Marco Asensio from Real Mallorca for an undisclosed fee.
Madrid are reported to be paying around 3.7 million euros for the 18-year-old attacker, who will remain on loan at Segunda side Mallorca until the end of the current campaign.
Spain underage international Asensio has long been highly-rated, and was widely expected to join Barcelona last summer, but a deal could not then be agreed. Barca's current transfer ban, and Mallorca's serious financial difficulties, both then played a factor as Madrid jumped in to steal a march.
The deal was confirmed in a statement on the European champions' official website, which said the player was to sign a six-year contract.
"Real Madrid and RCD Mallorca have reached an agreement for the transfer of Marco Asensio, who will be connected to our club for six seasons," the statement said. "The player will remain at Mallorca until the end of the current season."
- AS English (@English_AS) December 5, 2014
The deal had been expected to be announced sooner, but Marca reported that ongoing boardroom struggles at Mallorca delayed it going through.
Last weekend, Asensio, who in early November removed mention of his past as a Barca fan from his official social media accounts, told Cadena Ser radio that he was happy to be joining Madrid and for his future to have been finally resolved.
"I have decided to go to Madrid and I am very happy," he said in comments reported by AS. "I want the transfer to be done so that everyone can be more relaxed -- the club [Mallorca], myself and Real Madrid. I am proud that the biggest clubs are interested in me, and the biggest, which is Madrid."