According to various reports emanating from Spain and Brazil, Cruzeiro midfielder Lucas Silva will finalize a move to Real Madrid in the coming days.

The highly-rated Brazilian is expected to sign a contract with the ten-time champions of Europe this week, before being sent directly back to the Brasileiro league title holders on loan for the remainder of the European club calendar. The transfer would be made official once the transfer window opens in January.

The 21-year-old midfielder is one of the most sought after young players in the world and Real Madrid want to secure his signature sooner rather than later in an effort to ward off clubs competing for his services.

Cruzeiro have reportedly been asking £12 million for the young Brazilian midfielder.

Arsenal and Manchester United have been linked with moves for Silva in recent days. But today’s developments mean that the Premier League clubs will have to look elsewhere for the defensive midfielding needs.

Last week, Silva spoke to the Brazilian television show Arena SporTV and revealed that he and his representative had been in talks with officials at Real Madrid. Although the deal was yet to be completed at the time, the midfielder confessed that it was his “dream” to play for the Spanish giants.

“I don’t know what they are going to propose, whether they want me in the middle of the season or at the end and I stay for the Copa Libertadores,” Silva told Arena SporTV.

“I still don’t know what will happen, but it would be interesting to stay for the Libertadores and then join up with the rest of the players for preseason.”

“Negotiations are still open but if they do take shape it will be a dream to play for Madrid.”

If today’s reports in Spain and Brazil are true, it appears Real Madrid have agreed to let Silva return to Brazil and will allow the player to meet up with his new teammates at the conclusion of the prestigious Copa Libertadores. The South American club competition begins in February 2015, with the champions being crowned during the first week in August.

Silva played his last match of the season for Cruzeiro today , a 2-1 win over Fluminense. Prior to the contest, the midfielder’s teammates spoke of his imminent move to the Spanish capital.

“Real Madrid are a great club and Lucas [Silva] is a great player. I’m sure they’ll be a good fit,” said midfielder Everton Ribeiro – who is also being tracked by a number of European clubs.

“Lucas has done a lot in two years at Cruzeiro. Now is the time for him to grow in Europe.”

Cruzeiro striker Borges added: “Lucas has everything to play for in Madrid, and we’re waiting for the move to happen as soon as possible.”

This season, Silva was named the league’s defensive midfielder of the year and helped his club win its fourth Brasileiro league title.

With midfielder Sami Khedira ensured to leave Real Madrid this summer, it is expected that the 21-year-old Brazilian will replace the German international in Carlo Ancelotti’s side next season.