Real Madrid have officially announced the signing of Marc Cucurella from Chelsea on a six-year deal.
Atletico Madrid were also in talks for the left-back, who is with Spain at the World Cup.
However, Cucurella has picked their city rivals Real Madrid as his next club, with the deal moving quickly on Sunday.
Real have struck an agreement worth €55million (£47.5m) and €5m (£4.3m) in add-ons to secure the defender’s services.
Cucurella leaves Chelsea four years after signing from Brighton in a £60m move.
The 27-year-old made 163 appearances across all competitions for the Blues, scoring nine goals and assisting 13.
Cucurella won the Club World Cup and Conference League during his time at Stamford Bridge.
Confirming the sale on Monday morning, a Chelsea statement read: “Marc Cucurella has completed a permanent transfer to Spanish LaLiga side Real Madrid.”
Before adding: “Everyone at Chelsea FC would like to thank Marc for his efforts during his time at the club and for the role he played in our recent achievements.
“We wish him every success as he begins the next stage of his career.”
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News of his move to Madrid will come as a surprise following comments he made on his future this weekend.
Speaking to Marca on transfer speculation, he said: “I’m not reading much and I’m not paying much attention. My agents already know they don’t have to tell me anything.
“I’m very happy where I am, and so is my family. Whatever happens, happens. Right now, I’m focused on the World Cup and enjoying this experience, which is my first and who knows if it will be my last.”
When asked if he was inspired by the Chelsea project under their new manager Xabi Alonso, he replied: “Yes. I’ve spoken with him and he inspired a lot of confidence in me.
“I’ve also spoken with (Alejandro) Grimaldo and Borja (Iglesias), who have worked with him, and they spoke very highly of him. The project seems very interesting.”
talkSPORT revealed earlier this month that Chelsea would be willing to sell Cucurella if their valuation was met.
Cucurella had three years remaining on his deal at Chelsea, who have Jorrel Hato ready to fill the void at left-back.
Atletico had Cucurella as a leading target and Barcelona were also said to be potential suitors.
But Real Madrid stole a march on their rivals for one of the best left-backs in world football.
Cucurella is the latest Premier League player to agree to a move to Madrid after Bernardo Silva, who will leave Manchester City.