Los Blancos announced the move for the Spaniard, who graduated from the youth ranks at Betis to the senior squad in 2014, via their official website. The club noted Ceballos will be unveiled to Madridistas at the Bernabeu on Thursday.
Even a club of Madrid's calibre will consider this deal to be a coup. According to Dermot Corrigan of ESPN FC, Barcelona were also keen on signing the midfielder. Corrigan also provided details about how Madrid will pay for the player:
Despite his relative youth, Ceballos has been a regular in La Liga over the past two seasons, making 64 appearances in the Spanish top flight since the start of the 2015-16 campaign.
Per WhoScored.com, he is fantastic on the ball and regularly shows great dynamism going forward:
Additionally, the Spain under-21 international is also solid defensively and has the potential to become a top-class central midfielder—he can also operate on the left flank.
Ceballos will have to fight for a starting place at Madrid given the presence of Luka Modric, Isco, Toni Kroos and Mateo Kovacic. He may have to satisfy himself initially with less playing time than he was granted at Betis as a result.
However, Ceballos has the talent to force his way into the first team, and given his youth, he has huge room for improvement.