Real Madrid have agreed a €6 million fee with Espanyol to sign the Spain goalkeeper Kiko Casilla.

The 28-year-old arrives following the departure of Iker Casillas to Porto, and will provide competition for Keylor Navas and the inexperienced Fernando Pacheco in the first team.

Real Madrid had retained a 50 percent ownership of Casilla, who was a product of their youth academy.