Real Madrid have announced that they have brought Lucas Vazquez back to the club for the next five years after exercising their buyback clause on his contract with Espanyol.
Vazquez, 23, spent last season on loan at Espanyol from Los Blancos, scoring four goals and recording six assists in 39 appearances, before the club opted to secure a permanent transfer.
Real Madrid has exercised their buy-back contract rights over @Lucasvazquez91 for the next 5 seasons #HalaMadrid pic.twitter.com/7BHeP5Kp5R
- Real Madrid C.F. (@realmadriden) July 2, 2015
It had been reported that new coach Rafa Benitez wanted him to be part of his squad for the 2015-16 season and the deal has now been for a fee in the region of €1 million, according to AS.com.
Espanyol president Joan Collet said last week: "We were told that they want him for their first team. We received communication from Real Madrid two or three weeks ago and we told them that we were going to execute the option to buy, but Real Madrid made us an offer.
"We value the economic issue. We have reached an agreement. We will keep 25 percent of his rights. For the coach, naturally he is upset but we've talked to the sporting director who is looking at the options."