Is Real Madrid Signing Illarramendi Worth His Huge Transfer Fee?

The biggest talking point around Real Madrid's signing of Real Sociedad midfielder Asier Illarramendi has probably been the striking similarities between the player and a certain Spanish international who is already at the club.

The second thing that may well have popped into many Madrid fans' minds is, 'is a player who has only played 57 La Liga matches really worth that much?'

Last season's runners-up forked out €38 million to trigger Illarramendi's buyout clause to bring the 23-year-old to the capital on a six year deal.

There is no doubt Illarramendi is a wonderful footballer, but to put that fee into perspective, it is the highest Real Madrid have ever paid for a home-grown player, according to elmundo.es.

In fact, it is the second largest amount paid by a Spanish club for a Spaniard, after Barcelona's purchase of David Villa for €40 million in 2010.

In terms of Real Madrid's top transfer fees, Illarramendi now ranks sixth on the all-time list after Cristiano Ronaldo (€96m), Zinedine Zidane (€75.1m), Luis Figo (€71.6m), Kaka (€65m) and Ronaldo (€45m).

Next on that prestigious ranking, right after "Illarra," comes the man he has been most likened to, Xabi Alonso, for whom Madrid paid Liverpool €35.4 million in 2009. 

It is hard not to draw comparisons between the two players who, as some wags on Twitter have pointed out, even look quite similar:

Both hail from Gipuzcoa in the Basque country and emerged through the ranks of Real Sociedad. Both are most comfortable playing as one of two defensive/central midfielders in a 4-2-3-1 (or similar) formation.

Illarramendi is skillful on the ball but also offers defensive steel at the base of midfield. As someone who has worn the red shirt of Spain at under-age level, it is no surprise that he is also a terrific short- and long-range passer of the football. Just like Xabi. 

As described by David Cartlidge in an excellent whoscored.com article, however, there are quite a few differences between the Real Madrid veteran and his heir apparent.

The younger man is regarded as a more aggressive and tactically astute defensive-minded midfielder, then, who Real Madrid will be hoping can increase energy levels in the center of the pitch.

That being said, Illarramendi does not arrive with the credentials of Alonso, who was already an established member of the Spanish side and a proven first division performer and Champions League winner with Liverpool, when he transferred to Madrid.

Whether Alonso is fading, as seems to be the case, or if he simply suffered a slump in form last season, will determine whether Illarra has a chance to usurp him in Real Madrid's starting lineup sooner rather than later. 

Some suggest the former Liverpool man is on his way out of Los Blancos this summer, meaning the rookie would be expected to take charge of the midfield from the outset.

Nonetheless, it would seem Real Madrid have overpaid for a player who has only shown his quality at senior level over a short space of time.

If Illarramendi proves himself to be a worthy successor to Xabi over a number of years, Florentino Perez's big spend will turn out to have been a gamble well worth taking.

At this stage, though, this deal is just that; a rather large gamble.