Real Madrid have confirmed they have agreed on a deal with Real Betis for their midfielder Dani Ceballos on 14 July.
The 20-year-old was a key part of Spain's Under-21 side that won the Under-21 European championship in Poland. His impressive display saw him being named as the Player of the Tournament.
Ceballos' form for both club and country saw him attract interest from the Spanish capital club. Real were not the only club interested in securing his services as their league rivals Barcelona were in for his signature, according to the Mirror.
Betis, on the other hand, were ready to hand their star player a new contract. However, they failed to tie him down a new contract as Ceballos signed a six-year deal the Champions League and the La Liga winners.
"Real Madrid C. F. and Real Betis Balompié have agreed the transfer of Dani Ceballos, who has signed a six-year contract with the club," a statement read on Real's official website.
Ceballos has €15m (£13.2m, $17.1m) release clause in his Betis contract. According to the Spanish newspaper AS, Real have decided to pay €18m (£15.8m, $20.5m) in order to beat the competition from league rivals Barcelona.
Betis president Angel Haro earlier confirmed that the player has set his sights on making a switch to the Santiago Bernabeu. He will now join Theo Hernandez and Jesus Vallejo for Real's first team squad for the 2017/18 season.
Zinedine Zidane and his men are currently in the United States for the pre-season tour. Ceballos will join his new teammates a day after his unveiling on 20 July. The midfielder's capture will come as a blow for Barcelona, who were also in the race for his signature.