Atletico spend reported €50M to sign midfielder Alex Baena from Villarreal

Spanish international Alex Baena has signed for Atletico Madrid on a five-year deal, the La Liga club announced Wednesday.

The 23-year-old arrives from Villarreal for an unspecified fee, although Spanish media report the deal could amount to nearly 50 million euros ($58.8 million).

"Atletico de Madrid and Villarreal have reached an agreement for the transfer of Alex Baena. The 23-year-old midfielder has signed for our club until June 30, 2030," the Rojiblancos said in a statement.

Baena came through the youth academy at Villarreal and made 148 appearances for the Yellow Submarine, scoring 26 goals and laying on 40 assists.

He spent the 2021/22 season on loan at Girona, before returning to his parent club and cementing his place as the key attacking component at the 2021 Europa League champions.

Baena has 10 Spain caps and was part of La Roja's European Championship-winning squad last summer.