Real Madrid have pipped numerous competitors to the signature of Exequiel Palacios, who will be the club’s first signing in the January transfer window according to a report from Spanish news outlet Marca.

Los Blancos already have a deal in place with the Argentine starlet’s club River Plate and the move is worth just over €20 million to the Buenos Aires based club.

The deal will be formally announced after the second leg of the Copa Libertadores final which River go in to drawing 2-2 with arch-rivals Boca Juniors, who are chasing their fifth victory in the competition this century.

The 20-year-old attacker was reportedly a transfer target for Inter and a whole array of other top European clubs and the report details that the youngster will sign a bumper six-year contract with the Santiago Bernabeu club.

Palacios has made 37 more first-team appearances since his debut in November 2015 and has scored four goals while tallying five assists.