Real Madrid have agreed a deal to sign Santos wonderkid Rodrygo, according to the Brazilian club.
The transfer, for a reported €45 million fee (£39.3m/$52.2m) is a record a Latin American club, with Santos confirming that they will retain the 17-year-old for another season.
The deal will be completed in July 2019, with Rodrygo set to further his development in Brazil during the 2018-19 campaign.
Santos have praised the conduct of Real throughout negotiations, saying: "Santos FC is grateful for the attitude and professionalism of Real Madrid CF in every process, as well as the family and representatives of the player, who have sought a transparent, and very good, negotiation for all parties."
Rodrygo has become something of a wonderkid over the past season, scoring six goals and providing two assists in 15 appearances in 2017-18, while he has also scored three goals in four games for Brazil's Under-17 side. He has been called up to the Under-20 side, but has yet to win a cap.
In addition to the fee Real have paid for the teenager, it has also been reported that €5m (£4.3m/$5.7m) of that figure has been reserved as a bonus for the player.
Rodrygo was the youngest player ever to score a goal in the Copa Libertadores, while he netted six times in one match while playing for the Under-17 side.
He will join another Brazilian prodigy at Santiago Bernabeu when he finally arrives, with the club having agreed a deal to secure Vinicius Junior from Flamengo.
Real have also paid €45m for the 17-year-old, as they look to build an elite team for the future.
He has scored four goals and provided three assists thus far in 2017-18, but his form for the Brazilian Under-17 team is more impressive; he has notched 12 goals in 15 caps.
Santos' domestic season continues apace, with the club currently 15th in the table, 14 points behind leaders Flamengo.