05.12.2014 18:27 h

Real Madrid sign Mallorca starlet Asensio

Real Madrid on Friday confirmed the signing of highly-promising teenage midfielder Marco Asensio from Mallorca on a six-year deal.

"Real Madrid CF and RCD Mallorca have reached an agreement for the transfer of Marco Asensio, who will join our club for six seasons," the European champions announced on their website.

But they added that Asensio would stay with second-tier Mallorca for the remainder of this season.

Mallorca said the agreement was "beneficial for both parties and for the player himself" and that there was a possibility that the loan could be extended beyond the summer.

The 18-year-old made his first-team debut for Mallorca last season and was named player of the month in Spain's second division in October.

Eligible to play for the Netherlands through his Dutch-born mother, Asensio is a Spanish youth international.

Press reports in Spain indicated that Real beat several leading clubs, including Barcelona, to his signature, and that the transfer fee was in the region of 3.9 million euros ($4.8m, £3m).