Atletico Madrid have completed the signing of Sergio Asenjo from their Primera Liga rivals Real Valladolid.

The 20-year-old Asenjo, who was linked with the likes of Barcelona and Manchester United in the past, has agreed a four-year contract with the Rojiblancos and, if all goes well with his medical, is set to be presented on Monday.

Asenjo missed a large chunk of last season with a knee injury but returned at the start of April to reclaim his place in the Valladolid team for the final two months of the campaign.

As part of the deal that sees the Spain Under-21 international move to the Vicente Calderon, Brazilian Diego Costa, who was on loan at Albacete last season, will spend the next campaign at Valladolid.

Atletico have been searching for a goalkeeper after their two main custodians from last year, Leo Franco and Gregory Coupet, left the club earlier this summer.