Real Madrid have agreed a deal to sign Brazilian wonderkid Endrick on a five-year contract from Palmeiras, sources have told ESPN.
Sources said the transfer is worth €72 million, although the 16-year-old will only be able to move to Madrid in 2024, when he turns 18. The deal will begin when the transfer window opens in July 2024, according to sources.
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The official announcement depends on Endrick signing the contract and other details thought to be formalities, given both sides have reached an agreement on the terms of the transfer.
Endrick's release clause was set at €60m, and sources said Real Madrid added €12m to that figure to ward off competition from other clubs and account for taxes.
Sources had told ESPN the forward was being pursued by Chelsea and Paris Saint-Germain, but the 14-time Champions League winners now appear to have won the race for his signature.
ESPN previously reported that Real Madrid were using a similar strategy to the one which helped them sign Vinicius Junior in 2017 to incorporate another young Brazilian into their squad.
Endrick only made his senior Palmeiras debut on Oct. 6 but helped the Sao Paulo team win this year's Brasileirao title and became the youngest goalscorer in the club's history when he scored twice against Athletico Paranaense on Oct. 25.