Javier Hernandez has described his situation at Real Madrid as "frustrating" after playing 590 minutes for the club.
Derby County have completed the signing of winger Michael Jacobs on a three-year contract from Northampton Town after agreeing an undisclosed fee.
Sky Sports revealed on Monday that the Rams had finally settled on a compensation sum for Jacobs, who was out of contract at Northampton.
The 20-year-old was a target for several rival Championship clubs and Derby manager Nigel Clough is delighted to have finally added Jacobs to his squad.
"We're delighted to secure Michael's signature as he's a player we identified some time ago as someone who would be a very good addition to our squad, and over the last two years he's been one of the best players in the lower leagues," Clough told the club's official website.
"He's a young lad, but already he has plenty of first-team experience at Northampton behind him and we feel he has plenty of potential, which we believe he can fulfil in a Derby County shirt.
"Michael fits in well with the sort of player we're looking to bring into the club and we're delighted he's chosen Derby County after hearing what we've had to say and having a look around the club.
"We've had to be patient in getting this deal done, but we're very happy to get it over the line."