The on-going transfer saga between Real Madrid and Brasileiro league winners Cruzeiro appears to be coming to a conclusion.

According to numerous reports from Spain, the two clubs are finalizing an agreement which will see the Brazilian league’s defensive midfielder of the year officially join the reigning Club World Cup and European champions next week.

The 21-year-old Silva had been a transfer target of Arsenal (with the English club tabling a bid in December), but Real Madrid are set to sign the Brazilian to a six-and-a-half year contract – though it has yet to be determined if the Spanish club has met Cruzeiro’s £12 million valuation of the player.

The Brazilian champions rejected two earlier bids from the Spanish club in December and speculation had been that the La Liga side had decided to pursue other transfer targets. But this latest news shows that those reports were premature.

The signing of Silva will be Real Madrid’s second in the span of a few days as Los Blancos announced the signing of Norwegian wonderkid Martin Odegaard late Wednesday and presented the teenager to the media at the club’s training ground today.

While Odegaard will start his career in Spain playing for Real Madrid Castilla in Segunda Division B, Silva will be vying for a place in the senior squad as it is understood that Carlo Ancelotti has green-lit the sale of midfielder Asier Illarramedni for £19 million to Athletic Bilbao.

Silva has been on Real Madrid’s radar for over a year and it was reported in December that the defensive midfielder “dreamed” of playing for the Spanish giant. It now appears the young Brazilian’s dream is about to become reality.