Real Madrid reach agreement to re-sign Lucas Vazquez

Espanyol president Joan Collet has revealed that his club have agreed to sell Lucas Vazquez back to Real Madrid.

Speculation earlier today claimed that Los Blancos were eager to re-sign the 23-year-old, who left the Bernabeu 12 months ago.

When asked about those reports at a press conference this afternoon, Collet conceded that a deal has been reached for the winger to become a part of Rafael Benitez's squad.

"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 have reached an agreement," he said.

"We will keep 25% of his rights. For the coach, naturally he is upset but we've talked to the sporting director who is looking at the options."

It is believed that Madrid will pay their Catalan counterparts £1m.