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| Sergio Canales will play for Valencia |
Valencia have secured a buying option for Canales, believed to be worth £10.4M, while Real Madrid will be allowed to re-sign the midfielder during the two-year period which follows the player's potential transfer to the Mestalla for a reported fee of between £13M-£15.5M.
Canales, 20, had a muted first season at the Santiago Bernabeu after signing for the club from Racing Santander last summer.
The midfielder, who made 15 appearances for Real Madrid last season, will complete a move to Valencia after the conclusion of the Under-20 World Cup in Colombia.
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