Real Madrid have completed the signing of Spain right-back Alvaro Odriozola from Real Sociedad.
Madrid announced an agreement on their website on Thursday, saying the defender was set to sign a six-year contract pending a medical, then confirmed his signing shortly thereafter.
Real Sociedad president Jokin Aperribay revealed Madrid did not trigger Odriozola's €40 million buyout clause but rather the two clubs negotiated a smaller deal.
"We reduced it a little. It's a maximum of €35 million, €30m plus €5m in variables," Aperribay told Onda Cero radio when asked about Odriozola's transfer fee.
Aperribay praised Odriozola and believes Madrid have landed a great talent.
"I've known Alvaro since he was a boy as he was friends with my son," Aperribay said. "I've seen him grow up. He is a great person, very responsible. He's a player that will always give his best. He is very fast, I think among the fastest players in La Liga. He is very talented and has a lot of projection."
Odriozola was named to Spain's final World Cup squad but never got off the bench as La Roja were eliminated in the round of 16 to Russia. He scored in a pre-tournament friendly draw with Switzerland last month.
The 22-year-old started 32 games for Sociedad in La Liga last season, after splitting time in 2016-17 between the first team and the reserves. He also appeared in a further six games in the Europa League, scoring against Salzburg in February.
He said goodbye to his boyhood club in a letter on social media.
"I arrived to Real Sociedad as a 10-year-old boy and with a lot of dreams to fulfill," he said. "Twelve years later I depart having achieved one of the biggest dreams that is to play for La Real's first team. I could only leave my club and my city to face the biggest of challenges: to play for Real Madrid. I'm leaving to pursue the biggest challenge of my life with the aim of making those who have cared for me proud because I'm going to represent you by giving it all I have in my heart and in my mind."
The signing of Odriozola leaves no room at the Bernabeu for Achraf Hakimi, a 19-year-old Morocco international who was a favourite of previous manager Zinedine Zidane.
Recent reports have linked Hakimi with a move to Borussia Dortmund on a two-year loan.