Real Madrid have secured their third defensive signing of the summer transfer window as Alvaro Carreras arrives.
Benfica have relented in their battle to keep the Spanish left-back after including him in their FIFA Club World Cup squad last month.
The Portuguese giants confirmed Real Madrid were interested in bringing Carreras back to the Spanish capital – having previously played for the club at youth level – but their first transfer offers were rejected.
Carreras has since headed off on a summer break, but with both sides free from Club World Cup duty, the deal has been wrapped up.
Real Madrid previously hoped to complete a transfer for around €40m, but Benfica blocked any suggestion of a negotiation over his full €50m release clause in Lisbon.
Club legend Rui Costa and head coach Bruno Lage teamed up to fire a message of no deal being done over the 22-year-old in June.
The situation has changed little since then and the clause will be paid but Real Madrid have reached an agreement to pay the full amount, in instalments.
Carreras’ arrival will mean fresh questions over Fran Garcia and Ferland Mendy with both players linked to exit.
Garcia completed all six of Real Madrid’s games at the Club World Cup, and impressed in patches, with Mendy ruled out due to injury.
However, with his first team chances expected to be slashed, the Spain international is on the hunt for a new challenge.
Reports from Diario Sport claim Serie A giants AC Milan are preparing a €20m offer to bring him to the San Siro as current left back – and former Real Madrid player – Theo Hernandez has accepted an offer to join Saudi Pro League side Al Hilal.