Madrid, Jun 20 (IANS): Atletico Madrid announced on Thursday that midfielder Marcos Llorente is set to join the capital side on a five-season contract coming from fellow La Liga club and cross-town rival, Real Madrid.

"Our club has reached an agreement with Real Madrid over the transfer of Marcos Llorente, pending medical tests. The 24-year-old Spanish midfielder will sign on a five-year contract," Atletico said on its website.

"We welcome a great football player and wish him the best of luck," the note added.

Llonrente, who was born in Madrid and was raised in Real Madrid's youth teams, has been a regular player for the Spain U21 national team, along with his new teammate, Saul Ñiguez, reports Efe news.

For its part, Real Madrid released an online statement to announce Llorente's departure.

"The club wishes to express its gratitude for the commitment and professionalism shown by the player over the years and for the exemplary conduct he displayed since he joined our academy in 2008 through until his time as a member of the first-team squad," Madrid said.

"Real Madrid wish the player all the very best in this new chapter," the note added.