Real Madrid were widely tipped to go on an incredible spending spree between now and the end of January in what could be their final chance to register new players before summer 2017.
FIFA's transfer ban will prevent Real Madrid and Atletico Madrid from signing new players for the next two windows, but both are still free to continue business in the current window.
Cue pandemonium on the back pages. They have been linked with a whole host of names including David de Gea, Eden Hazard and Paul Pogba. Well, amidst much anticipation, it looks as though they have indeed sealed their first signature.
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According to the Daily Mail, Real Madrid have agreed a £7.7million fee for Boca Juniors youngster Rodrigo Bentancur. He is not exactly the superstar some of the Bernabeu faithful were hoping for, but he will represent the first signing under Zinedine Zidane's stewardship.
Bentancur, 18, has made quite the impression in Argentina, already breaking into the first-team at one of the country's biggest clubs. However, if his move to Madrid is completed, he will start life at Real in their B-team (Castilla) alongside Martin Odegaard.
Buying up talent
While the transfer ban could still force Real Madrid into some unplanned moves before February, Bentancur's potential arrival follows a similar theme for the club's transfer policy over the last few seasons.
Florentino Perez has set about acquiring the very best in the world's young talent, including the £1.5m purchase of Odegaard last January. Jesus Vallejo, a 19-year-old centre-back, was signed for £4.6m from Real Zaragoza and loaned back.
Instead of concentrating on buying players while they can, Real Madrid are working hard to get this upcoming ban overturned. They have launched an appeal and, if it fails, are prepared to take it to Court of Arbitration for Sport in Lausanne.
However, having seen Barcelona banned for the same infringement, the president is set and Real Madrid are still likely to fail. Time to get the chequebook out, Mr. Perez.