“Real Madrid and Inter have agreed to the transfer of Mateo Kovacic,” a statement on Madrid’s website read. “He will remain at the club for the next six seasons.”
Kovacic has been a pivotal player for the San Siro club over the last two years, scoring eight goals in 44 games in all competitions last season for Roberto Mancini’s men.
He began his career in his homeland with Dinamo Zagreb before moving to Inter two years ago, where he scored eight goals in 97 appearances.
However, Inter coach Roberto Mancini admitted earlier this week that financial fair play pressures had forced the Serie A side into selling one of their prized assets.
Kovacic will link up with international teammate Luka Modric at the Bernabeu, but is likely to find a starting place hard to come by despite his lofty price tag with competition for places in midfield fierce given the presence of James Rodriguez, Toni Kroos and Isco.
His arrival should, though, open the exit door for Asier Illarramendi after two disappointing seasons at the club.