Real Madrid have agreed a deal to sign Levante striker Carlos Espi on a permanent transfer.
Espi played a key role in Levante's survival bid last term, scoring 10 goals in the final 13 La Liga games of the season.
The striker finished with 11 goals in 25 competitive appearances, helping his team finish in 16th place in the table and earning him the award of La Liga's best Under-23 player of the season.
As per Sky Sports News, Espi's impressive displays for Levante led to interest from a number of Premier League clubs.
Real Madrid announce Espi transfer
There was an expectation that the Levante academy product would eventually join an English club, but Real Madrid have moved quickly to win the race for the Spanish youth international.
In a statement released on Thursday evening, Real Madrid announced they had reached an agreement with Levante to sign Espi on a permanent deal.
The deal was made relatively easy by the fact Espi had a €25m (£21.4m) release clause in his Levante contract.
Los Blancos also revealed that the 21-year-old will sign a five-year contract until the summer of 2031.
Espi to replace departing Garcia
Real Madrid view Espi as a suitable replacement for Gonzalo Garcia, who is set to join Premier League side Fulham.
The Cottagers have agreed to pay €40m (£34.3m) to sign the striker and a further €10m (£8.6m) to recruit his Real Madrid teammate, Cesar Palacios.
Espi will likely start out as a backup option to Kylian Mbappe, although his towering 6ft 4in frame means he can offer a greater aerial threat than Jose Mourinho's current forward options.
Endrick is among those options, although Espi's arrival could push the Brazilian towards the exit door if he believes he will struggle to gain regular playing time.