Spain international goalkeeper Kepa Arrizabalaga has signed a new long-term deal with Athletic Bilbao, despite being heavily tipped to join Real Madrid this month.
Los Blancos are said to be on the lookout for a new number one and had set their sights on Kepa, who is now under contract at San Mames until June 2025.
Madrid must hand over €80m (£70.5m) if they are to trigger the 23-year-old's release clause, effectively forcing the reigning Spanish and European champions to look elsewhere.
Kepa, who earned his solitary Spain cap in a 5-0 friendly win over Costa Rica in November 2017, has been first choice at Athletic since returning from a loan spell at the start of last season.
Chelsea keeper Thibaut Courtois and David de Gea of Manchester United remain long-term targets for Madrid.
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