AC Milan's Jeremy Menez insists he has no regrets at turning down the chance to join Manchester United four years ago.
Louis van Gaal would be interested in signing Cristiano Ronaldo, but does not think Real Madrid will sell him.
The 24-year-old Andalusian has spent the last three years on loan with Deportivo La Coruna, Getafe and then Real Betis, where he made 25 league appearances and scored one goal in the 2012-13 campaign.
A statement published on Elche's official website read: "The agreement reached for Ruben Perez to spend the next season on loan with the Franjiverde further strengthens the good relations between Elche and Atletico Madrid."
Elche, who will play in the Spanish top flight for the first time in 24 years after winning the Segunda Division, have already taken Sevilla duo Manu del Moral and Miroslav Stevanovic on loan, while signing defenders Cristian Sapunaru and David Lomban on free transfers.