Real Madrid sign striker Espi from Levante

Madrid: Real Madrid signed striker Carlos Espi from Levante for a reported fee of around 25 million euros.

"Real Madrid C.F. and Levante U.D. have reached an agreement for the transfer of the player Carlos Espi, who will be linked to our club for the next five seasons, until June 30, 2031," confirmed the Real Madrid website.

"At 21 years old, Carlos Espi has played three seasons at Levante, during which he appeared in 66 matches and scored 20 goals. Last season, he was named the best U-23 player in the league," the club added.

Espi scored 13 goals in 27 appearances for Levante last season, with most coming in the closing weeks of the campaign as he played a key role in helping the club avoid relegation.

Villarreal and several Premier League clubs had been linked with Espi, who celebrated his 21st birthday on July 24. Levante had left him out of its preseason friendlies to minimize the risk of injury.

His arrival comes as Real Madrid nears the sale of striker Gonzalo Garcia to Fulham for around 40 million euros, although it remains unclear whether Espi will be included in Madrid's first-team squad next season or sent out on loan to gain further top-flight experience.

The striker is the fifth signing Madrid have made this summer, following Marc Cucurella, Bernardo Silva, Ibrahima Konate and Denzel Dumfries.

Notably, Real Madrid generated a record 1.221 billion euros (1.4 billion U.S. dollars) in revenue during the last financial year, according to figures approved by the club's board of directors, reports Xinhua.

The Spanish club said revenue rose 3.1 percent from the previous season, adding that no other sports organisation has surpassed that level of annual income.

The increase was driven primarily by an 11 percent rise in revenue from the Santiago Bernabeu Stadium and a 6 percent increase in marketing income, boosted by sponsorship and commercial partnerships.

The club posted a pre-tax profit of 26.3 million euros, extending its run of annual profits to 26 consecutive years.

Real Madrid also reported net assets of 624 million euros, cash reserves of 83 million euros and net debt of 9 million euros.

The debt figure does not include financing related to the redevelopment of the Santiago Bernabeu Stadium, where total investment has reached 1.407 billion euros.

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