The Espanyol president, Joan Collet, has admitted that a deal is in place for Lucas Vázquez to return to Real Madrid.

"We have a verbal agreement with Real Madrid for Lucas, one which is positive for the club", Collet told reporters.

The 'Pericos' supremo did not volunteer the financial details of the transfer, but did say that the board believes it is a "good" deal for Espanyol considering "we could also lose him next year".

What Collet did reveal is a sell-on clause meaning that Espanyol will pocket 25% of any fee if Vázquez is subsequently bought by another club.

Real Madrid loaned Lucas to the Catalan outfit last summer in a deal including a purchase option, which Espanyol triggered at the beginning of June following a season in which the winger established himself as a key player at the Power8 Stadium. However, another clause allowed 'Los Blancos' to buy their academy graduate back; the decision to do so was taken with Rafa Benítez's approval and with one eye on the Champions League home-grown quota.