Real Madrid to sign Endrick as Palmeiras agree €60m deal to sell Brazilian wonderkid

• Blancos set to spend €60m on 16-year-old
• Will move to Spain in summer of 2024
• Barcelona, PSG and more miss out on top talent

WHAT HAPPENED? GOAL can confirm that Madrid will pay Endrick's €60 million (£52m/$64m) release clause, with €35m due up front and a further €25m in add-ons. They will also have to pay a further €12m in taxes related to the deal. Endrick won't make the switch until he turns 18, in 2024. His initial contract is set to run until 2027, with a further option for it to be extended through to 2030.

THE BIGGER PICTURE: Endrick has been the subject of mass transfer speculation for the last year after establishing himself as one of the world's best teenage talents. Chelsea, Barcelona and Paris Saint-Germain were all reported to be pursuing his signature, but Los Blancos have won the race.

WHAT THEY SAID?: "I thank Palmeiras for offering me everything necessary to become what I am today, for helping me to accomplish several of the my dreams and for respecting my desire and that of my family to make another dream come true," Endrick told Palmeiras' official website. 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 field: more goals, more victories, more titles and even more joy for our fans."

DID YOU KNOW? Endrick scored 170 times in his first five years at the Palmeiras academy, and netted three times in his first seven first-team appearances earlier this year.

IN TWO PHOTOS:

Getty Images

Getty Images

WHAT NEXT FOR ENDRICK? The teenager is set to visit Madrid in the coming days before returning to Brazil, where he will begin preparations to represent his country in the Under-20s South American Championship in January.