Real Madrid have completed the signing of Luka Jovic from Eintracht Frankfurt, with the 21-year-old signing a six-year deal.
It was reported in Germany last month that the transfer is worth €70m and the Serbia international forward will earn around £43.7m in total or £8.7m in a year.
Eintracht Frankfurt will pay Luka Jovic’s former team Benfica around £10.5m from the transfer fee.
A brief statement from Madrid’s official website read: “Real Madrid CF and Eintracht Frankfurt have agreed to the transfer of player Luka Jovic, pending a medical examination.
“The player will be tied to the club for the next six seasons, until June 30, 2025.”
Frankfurt’s Sporting Director Fredi Bobic said in a statement: “Luka Jovic is a big loss for us. His explosiveness and scoring skills have spread throughout Europe and we’ve benefited not only from his goals over the past two years. But for us it was clear that there is a financial pain threshold.
“For Eintracht Frankfurt this is a good and important transfer. We wish Luka only the best for his future. He has the best qualifications for a great career. And we are proud that we were able to support him along the way.”
Jovic signed for Frankfurt on loan from Benfica in 2017 and in April the Bundesliga side exercised their option to make the transfer permanent.