Oct. 21 (UPI) -- Real Madrid has reached a verbal agreement with young Brazilian star Alan de Souza Guimaraes.
Sources informed Spanish publication AS of the move. The 17-year-old is currently with Brazil's Under-17 squad at the World Cup in India.
He is expected to report to Real Madrid next summer. The midfielder has a contract until 2020 with Palmeiras with a release clause of about $58.9 million, according to AS. He will initially join Castilla, Real Madrid's B team.
Real Madrid signed Alan's international teammate Vinicius Junior in May. He will move from Flamengo to Real Madrid in July of 2019. Real Madrid paid about $53 million for the 16-year-old, according to reports.
Madrid currently sits in third place in La Liga standings, behind Barcelona and Valencia.
Marca reported Friday that Real Madrid met with Alan's agent, Juan Figer, last spring and in the course of this La Liga championship. The report confirmed Madrid's latest contact with the midfielder.
Madrid hosts Eibar at 8:45 p.m. Sunday in La Liga action at Santiago Bernabeu.