Real Madrid have completed the signing of Eintracht Frankfurt striker Luka Jovic on a six-year contract until 2025, subject to passing a medical.
Sources had previously told ESPN FC how Jovic was coveted by teams across Europe but Madrid have won the race and will reportedly pay around €60 million, although Frankfurt said in a statement that both clubs would not disclose the fee.
"Luka is a big loss for us. The word has spread in Europe about his explosiveness and his goal-scoring instinct. We've benefited not only from his goals over the past two years," Frankfurt director Fredi Bobic said.
"But for us it was clear that there is a financial pain threshold. For Eintracht Frankfurt this is a good and important transfer. We wish Luka only the best for his future. He has what it takes to have a great career. And we are proud that we were able to support him along the way."
Serbia international Jovic, 21, scored 29 goals in all competitions for club and country last season, including 10 goals in 14 games in Europe as Eintracht reached the semifinals of the Europa League, losing to eventual winners Chelsea.
Jovic is Zinedine Zidane's third signing of the summer, with a big rebuilding project underway after a disastrous 2018-19 campaign. Madrid have signed centre-back Eder Militao from Benfica for €50m, while forward Rodrygo will arrive from Santos this summer for €54m in a deal agreed last year.
Frankfurt will be due a huge profit having turned Jovic's initial two-year loan from Benfica into a permanent transfer for just €7m back in April, although the Portuguese club will receive around 30 percent of the money now being paid by Madrid.
On international duty with Serbia, Jovic will be expecting to add to his four senior caps in this week's Euro 2020 qualifiers against Ukraine and Lithuania.