Earlier this week, Real Madrid confirmed the signing of Dani Ceballos on a six-year deal from Real Betis, and according to reports, he'll have an unbelievable release clause in order to keep the likes of Barcelona away from him.

The 20-year-old has signed a contract with Los Blancos that will keep him at the club until 2023, and he will be presented as a Real Madrid player next Thursday according to the club's website, before joining the team on their preseason tour in the United States on Friday.

Madrid reportedly paid €17 million for his services - €2 million more than his €15 million release clause - to ensure they did not lose out on the youngster to Barca.

AS has now reported Real have now slapped an incredible release clause on the player to ward off any interest from their La Liga rivals.

AS has reported that Madrid has placed an unbelievable €500 million release clause on new signing in order to stop Barcelona from getting any ideas.

Ceballos rose to prominence after winning the Player of the Tournament award at European U21 Championship final this summer, which Spain reached the final of, losing 1-0 to Germany.

The 20-year-old signs on a six-year contract after James Rodriguez joined Bayern Munich on a two-year loan deal earlier this week, and he will join up with Spain U21 teammate Marco Asensio at the Santiago Bernabeu.

He becomes Real's second signing of the summer after Theo Hernandez joined from city rivals Atletico Madrid earlier this week for £25 million.

During his time at Betis, Ceballos played 105 games, scoring seven goals and providing nine assists.

He will now look to help Madrid win consecutive La Liga titles for the first time since the 2007-08 season.