River plate midfielder Exequiel Palacios is closing in on a move to Real Madrid but the move will be not be processed in January, report ESPN.
The midfielder’s release clause is said to stand at €20m with Los Blancos reportedly close to agreeing a five-year contract, but it will not commence until the summer.
Reporter Javier Gil Navarro has outlined that the two clubs are closing in on a financial package but part of the arrangement will be for the Argentine to stay at River for a further six months.
Palacios made his debut for River as a 16-year-old and has recently won two international caps for Argentina, attracting interest from both Barcelona and Atletico Madrid.
Paris Saint-Germain and Manchester City have also been linked with the midfielder which is said to have speeded up Madrid’s pursuit of the deal.
The central midfielder has made just 47 first-team appearances for River although 20 of those have arrived this year, including helping his club to the Copa Libertadores final.
Such a move would represent a continuation of Madrid’s policy of signing young South American players with Brazilian teenagers Vinicius Junior and Rodrygo Goes captured this year.