Real Madrid has announced the signing of Brazil teenage sensation Endrick from Palmeiras.
Endrick is set to join the Spanish giants in July 2024 when he turns 18 but will stay with Palmeiras in the meantime.
The deal is believed to be worth £62million including over £10million in taxes yet to be added.
Madrid has beaten a host of other top European clubs, especially Chelsea.
Barcelona and Paris Saint-Germain are amongst other clubs that sort after the 16-year-old.
Chelsea went as far as hosting Endrick’s family last month at the club’s Cobham training ground.
Fellow Brazilian Thiago Silva led him and his family around the training facilities. It was an attempt to convince the teenager to move to the Premier League side in January.
A Real Madrid statement read: ‘Real Madrid CF, Sociedade Esportiva Palmeiras, Endrick and his family have reached an agreement whereby the player will be able to join Real Madrid when he comes of age in July 2024.
“Until then, Endrick will continue his training at the SE Palmeiras. The player will travel to Madrid in the coming days to visit our club’s facilities.”
Palmeiras president Leila Pereira described the deal as “the biggest negotiation in the history of Brazilian football”.
She added: “Real Madrid’s proposal is compatible with Endrick’s enormous talent and corresponds to the sporting and financial goals that we have established since the beginning of negotiations”.
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Endrick thanks Palmeiras
Endrick has promised to give his all to Palmeiras before he joins Madrid.
“I thank Palmeiras, forever the club of my heart, for offering me everything necessary to become what I am today. They helped me to achieve my dreams, and respect my wishes and those of my family,” said the 16-year-old.
“Until I join Real Madrid, I will continue to dedicate myself as I have always dedicated myself to being able to offer Palmeiras even more on the pitch: more goals, more victories, more titles, and even more joy for our fans.”
Real Madrid says Endrick will travel to the Spanish capital “in the coming days” to visit the club’s facilities.
