Luka Jovic has completed a £52.4m (€60m) move to Real Madrid from Eintracht Frankfurt, according to Sky sources.
The 21-year-old Serbia international striker has signed a five-year contract with the Spanish giants, which will earn him £43.7m (€50m) in total or £8.7m a year.
The striker joined Frankfurt on loan from Benfica in the summer and last month the Bundesliga club exercised their option to make the move permanent.
The Serbia international has enjoyed a breakout season in the Bundesliga, netting 17 goals to leave Frankfurt within touching distance of Champions League qualification ahead of this weekend’s final round of fixtures.
And his talents have not gone unnoticed, with Madrid now closing on a transfer worth £52.4m ($67m).
Frankfurt will pay Jovic’s former club Benfica around £10.5m of the transfer fee.