Atletico Madrid have signed Real Madrid midfielder Marcos Llorente on a permanent transfer, both clubs announced on Thursday.
The 24-year-old will put pen to paper on a five-year contract with the Rojiblancos, subject to a medical, Atletico said in a statement.
A youth product of Real Madrid, Llorente only made seven league appearances last season -- 15 in all competitions -- and Los Blancos boss Zinedine Zidane was not counting on having him for the 2019-20 campaign.
A Real Madrid statement read: "The club wishes to express its gratitude for the commitment and professionalism shown by the player over the years and for the exemplary conduct he displayed since he joined our academy in 2008 through until his time as a member of the first-team squad.
"Real Madrid wish the player all the very best in this new chapter."
Llorente impressed while on a season-long loan at La Liga side Deportivo Alaves in 2016-17, where he made 33 appearances. He scored two goals in 36 official games for Madrid the past two campaigns.
He was tied to Madrid until June 2021 and is the first player to leave the club this summer. His father Paco also played for both Real Madrid and Atletico.
Llorente becomes Atletico's third summer signing following the arrivals of Portuguese defender Felipe from FC Porto and the acquisition of Argentinian forward Nicolas Ibanez from Mexican side Atletico San Luis. Ibanez will be loaned to Atletico San Luis for the 2019-20 campaign.
Atletico finished runners-up to Barcelona in La Liga and will play in next season's Champions League.