Atletico Madrid have completed the signing of highly-rated goalkeeper Sergio Asenjo from La Liga rivals Real Valladolid.

The 20-year-old, who was linked with the likes of Barcelona and Manchester United in the past, has agreed a four-year contract with Los Rojiblancos and, if all goes well with his medical, is set to be presented on Monday.

Asenjo missed a large chunk of last season with a knee injury, but returned at the start of April to reclaim his place in the Valladolid team for the final two months of the campaign.

As part of the deal that sees the Spain U-21 international move to the Vicente Calderon, Brazilian Diego Costa, who was on loan at Albacete last season, will spend the next campaign at Valladolid.

Atletico have been searching for a goalkeeper after their two main custodians from last year, Leo Franco and Gregory Coupet, left the club earlier this summer.