BREAKING: Real Madrid confirm €60 million signing of Brazil teenager Endrick

Real Madrid have confirmed that they've signed Brazilian wonderkid Endrick, with the Spanish giants beating competition from Europe's biggest clubs.

16-year-old Endrick has been grabbing the attention of some of the biggest clubs in the world, with a view to a move away from Palmeiras.

On Thursday afternoon, Champions League holders Real announced that they would be signing the teenager, once he turns 18-years-old, in July 2024.

Comunicado Oficial: Endrick.#RealMadrid

— Real Madrid C.F. (@realmadrid) December 15, 2022

Confirming the news, the club said in a statement, "Real Madrid CF, Sociedade Esportiva Palmeiras, Endrick and his family have reached an agreement whereby the player will be able to join Real Madrid when he comes of age in July 2024.

"Until then, Endrick will continue his training at the SE Palmeiras. The player will travel to Madrid in the coming days to visit our club's facilities."

The teenage sensation will reportedly cost the 14 time European champions €35 million up front, with another €25 million due in installments.

A further €12 million extra money in taxes will also be due by Los Blancos, who have signed him to a three year deal from 2024, initially.

The Palmeiras youngster has only played seven league games at senior level for the club, already scoring three goals in the process.

In five years for the club at youth level he scored a remarkable 165 goals in 169 games, including seven in seven during the 2022 Sao Paulo Youth Football Cup, which is where he really caught the attention of the world.

It's been reported that Real have been so desperate to sign the youngster that they've promised him they won't be signing Erling Haaland.

The Manchester City forward reportedly has a transfer release clause that comes into play in 2024 and Carlo Ancelotti's side would be amongst the favourites, having wanted him before he went to City.

However, the signing of Endrick could leave them not needing to sign another striker, as he'll expect to get first team football straight away.

The decision to make such a huge move for Endrick continues Real's recent policy to make sure they sign the best young talent from Brazil.

It seems to stem from their desire to make sure they don't miss out on the 'next Neymar,' having seen the former Santos star move to Barcelona when he moved to Europe.

In recent years they have spent big money on the likes of Vinicius Junior, Rodrygo and Reiner, which isn't to say the policy hasn't had its advantages.

Endrick has been heavily linked with Real in recent weeks and his move to the Bernabeu seemed inevitable, which may explain his social media activity.

The Brazilian deleted a post that was praising Lionel Messi, due to the reaction from some Real fans, considering the Argentina star's connection to their rivals Barcelona.