Real Madrid introduced Isco to fans Wednesday at the Estadio Bernabeu, where the midfielder posed with his new No. 23 jersey.
Isco, a 21-year-old Spain international playmaker, is the first signing of new manager Carlo Ancelotti's reign. The former Malaga player cost Real €30 million, per Iain Rogers of Reuters.
Last season with Malaga, Isco scored nine goals in 37 La Liga appearances. He added three goals in the Champions League as Malaga advanced to the quarterfinals. This summer, he scored three times as Spain won the European Under-21 title.
According to RealMadrid.com, Isco has signed a five-year contract after passing a medical. He met with club president Florentino Perez and members of the executive board before being introduced to fans.
Isco told RealMadrid.com:
I want to thank the president for his efforts, to thank my family and also the fans for their reception. For a player, being at Real Madrid is as big and as good as it gets. I hope to enjoy myself here and to win lots of titles for this club.
Perez praised Isco, saying he "thrilled" the club with his performance at the European Under-21 Championship.
"He is one of those different players that has shown his talents in the Champions League in this historic Malaga team," Perez said. "He had other offers, but he chose this club, where there are always challenges."
Real Madrid finished second in La Liga last season, reached the final of the Copa del Rey and the semifinals of the UEFA Champions League.