Liverpool have signed right-back Javi Manquillo from Spanish champions Atletico Madrid on a two-year loan deal.
The 20-year-old's move includes an option for the Reds to make the transfer permanent.
He told Liverpool's official website: "I'm very happy to have signed for a club like Liverpool. I think it's one of the biggest in Europe. Any footballer would want to come and play here.
"When they tell you Liverpool want to sign you, I think like any player, you are going to be absolutely amazed and you don't think of anything else than going straight there. It's a team that nowadays, as I said before, any player would want to be a part of."
He added: "The immediate objective is to do the best I possibly can here. I've come here to try and secure a place for myself in the side and, if possible, stay here for many more years in the future."
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A statement on the Spanish club's official website read: "Atletico Madrid and Liverpool FC have reached an agreement for the transfer of Javier Manquillo to the English side for the next two seasons.
"The young right-back, developed in the rojiblanca academy, passed the relevant medical examinations and signed his contract with the Reds. The Spanish under-21 international will earn valuable playing time in the Premier League to further develop his ability. From our club we wish the young full-back the best of luck in this new stage of his career."
Manquillo, who has represented Spain at under-20 level, becomes Liverpool's seventh signing of the summer.
Manager Brendan Rodgers has brought in three players from Southampton -- Rickie Lambert, Adam Lallana and Dejan Lovren -- as well as Emre Can from Bayer Leverkusen, Lazar Markovic from Benfica and Divock Origi from Lille.
His arrival will give Rodgers an extra option at right-back along with Glen Johnson and Jon Flanagan.
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Manquillo started out in Real Madrid's youth set-up, but after they released his twin brother Victor in 2007, he decided to leave and join city rivals Atletico. He made his senior debut for the club in a friendly against Egyptian side Zamalek in 2011, playing his first competitive game in the Copa del Rey against Albacete later that year.
The full-back was also a member of the Spain side that won the UEFA European Under-19 Championship in 2012.
Manquillo established himself as a regular in Atletico's B team, playing in the Spanish third tier, and has also featured for the senior side a handful of times over the last two seasons, but he is relatively inexperienced at senior level, playing three games in the league last season as Atletico were crowned Spanish champions on the final day.
He added: "From a personal point of view it was a disappointing year for me. I was unlucky with injury, but for the group as a whole it was a brilliant year.
"We managed to achieve things that from the outset appeared almost impossible, so let's hope that I find something similar here -- a team that has the highest aspirations and can win as much as possible."