Real Madrid have sold midfielder Marcos Llorente to city rivals Atletico, the clubs revealed on Thursday.
Llorente made just 15 appearances in all competitions last season and also featured sparingly under Zinedine Zidane in the previous campaign.
"Real Madrid and Atletico Madrid have agreed the transfer of the player Marcos Llorente," Los Blancos said in a statement.
"The club would like to show its gratitude for all these years of hard work and professionalism and for his exemplary behaviour since he joined our youth system in 2008 until his progress to the first team. Real Madrid wishes him good luck in his next stage."
Marcos is the son of Paco Llorente, who represented both Atletico and Real, and the great-nephew of Madrid legend Paco Gento.
Atletico have been tracking the defensive midfielder for some time, but Madrid were reluctant to sell to their city rivals.
Llorente will sign a five-year contract, Atletico revealed on their website, although the player is yet to undergo a medical.
"Agreement [has been reached] for the transfer of Marcos Llorente," Atleti wrote on Twitter. "Subject to a medical exam."
No fee has been mentioned by either club, but the deal will see Atletico pay Real around €40 million (£35m) for the midfielder, who is expected to replace Rodrigo Hernandez.
