Real Sociedad's young star Asier Illarramendi has joined Real Madrid after Carlo Ancelotti activated the Spanish U21's £31million release clause.
The Basque club's president Jokin Aperribay said: "This morning Real Madrid have activated Illarramendi's buyout clause.
"We wanted him to stay but we want to thank the player for the years he has been here.
"We did not want to negotiate with Real Madrid which we told Asier and his agents. We were not prepared for the money to be paid in instalments."
Aperribay told newspaper Football Espana: “The price is €32.19m, plus €6.759m in VAT, which amounts to a total of €38,949,900, which is what Madrid have placed with the LFP."
Real Sociedad's sporting director Lorenzo Juarros said: “He is a major player and this is much sooner than expected, but Real Sociedad will remain competitive."
The 23-year-old was part of the title winning U21 Spanish side in the European Championship in Israel last month and was named in the team of the tournament.
He joins Isco in the new Real Madrid side, as Carlo Ancelotti tries to shape a team to challenge for silverware in the upcoming season.
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