Real Madrid has announced the signing of 16-year-old striker Endrick from Palmeiras.
Los Blancos could spend up to €72 million on Endrick’s transfer fee, although €35m of this is fixed, with €25m in potential add-ons. Furthermore, €12m will need to be paid in taxes.
Real Madrid has signed the forward on a contract that runs until 2027, with the option of extending that deal to 2030.
FIFA regulations mean he will remain in Brazil until the summer of 2024.
“We’ve completed the biggest sale in the history of Brazilian football. Real Madrid’s proposal is compatible with Endrick’s enormous talent and corresponds to the sporting and financial goals that we have established since the beginning of negotiations,” Palmeiras president Leila Pereira said.
Endrick added: “I thank Palmeiras, the club of my heart, for offering me everything necessary to become what I am today, for helping me to accomplish my dreams and for respecting my desire and that of my family to make another dream come true.