Atletico Madrid midfielder Saul Niguez has revealed that his "new club" announcement relates to a football project in his hometown of Elche.
The 25-year-old sent the rumour mill into overdrive on Sunday when he promised to announce a new club on Wednesday morning, having previously been heavily linked with a move to Manchester United.
However, after keeping fans waiting for almost an hour longer than expected, Saul has now confirmed that he will create 'Club Costa City' in Elche, which will group more than 30 teams and 500 players from various age groups ahead of the 2020-21 season.
The project will be focused on boys and girls from ages four to 18 and aims "to provide the youngest with a comprehensive education from a personal and sports point of view so that they can access the elite of soccer".
"We have been developing this exciting and beautiful project for several years and I am very happy to be able to present it and make it official today," Saul said in a statement.
"The priority of Club Costa City is the comprehensive training of players with the aim of generating healthy lifestyle habits in them, as well as sports and educational training through great values that sport brings to society.
"I want to thank in advance all the families who trust us for the formation of their sons and daughters: our obligation and responsibility will be to train great people."
Betting had been suspended on Saul joining Manchester United prior to the announcement.