Just in: Real Madrid Closing in On €72M Signing Of 16 years-old Endrick || Media Pillow Sports

Real Madrid are prepared to spend big on another Brazilian prodigy.

The European champions are closing in on a deal to sign Palmeiras' 16-year-old striker Endrick for an initial €60-million fee, potentially rising to €72 million after add-ons, according to The Guardian's Fabrizio Romano.

Transfer rules dictate that Endrick can only move to Spain from Brazil when he's 18, meaning that the actual move will be on hold until the summer of 2024. Real Madrid brokered similar lucrative transfers for fellow Brazilians Vinicius Junior and Rodrygo.

Paris Saint-Germain had a €58-million offer for Endrick turned down by Palmeiras and subsequently withdrew from the race to sign the youngster, Romano reports.

Endrick only made his senior debut in October and has since scored three goals over seven league appearances for Palmeiras.