OFFICIAL: Real Madrid sign Lucas Vazquez

Real Madrid have completed the re-signing of Lucas Vazquez from Espanyol, the Santiago Bernabeu outfit have confirmed.

The winger came through the Madrid youth system but failed to break into the first team under Carlo Ancelotti, before moving on to Espanyol last season.

Espanyol were hoping to activate their option to purchase the 24-year-old’s contract outright from Madrid, although Madrid held an option to buy him back either this summer or next year.

Espanyol president Joan Collet announced that the two sides had agreed a fee, believed to be around €1 million, that would see the Spaniard return to the capital, but the Catalan side are reportedly holding on to 25 per cent of his rights.

Madrid announced that the player has returned to the club and signed a five-year deal, become Rafael Benitez’s first piece of business in charge.

“Real Madrid has recovered the rights of Lucas Vazquez within the existing agreement with the Espanyol,” a statement read.

“The player is tied to the club for the next five seasons.”

During his solitary season at Espanyol, Vazquez scored three and set up a further six goals in 33 La Liga appearances.