Canales makes Valencia move permanent
Real Madrid have confirmed the departure of midfielder Sergio Canales to Valencia in a permanent deal.
The 21-year-old spent last season at the Mestalla on a temporary basis after a two-year loan deal was agreed.
The deal contained a double clause which allowed them to sign Canales permanently for a fee which was reported at the time to be €12million, and granted Real a repurchase option reported at €18million.
Los Che have now exercised their right to buy Canales, with the player reportedly signing a five-year contract.
A statement on Real's website confirmed: "Real Madrid CF and Valencia CF have concluded the agreement for the transfer of Sergio Canales. Real Madrid CF reserves a right of repurchase."
Santander-born Canales has represented Spain at every age group from U-16 to U-21.