Atletico Madrid have struck a deal for Corinthians midfielder Elias.

Elias has already said a tearful farewell to Corinthians fans after Atletico had a €7 million offer accepted last week.

"It's already been agreed," said Elias on the pitch as photographers circled him for a final shot in a Corinthians shirt, "I am going to Atletico. I am sorry to be leaving you."

The move is a windfall for the player thanks to the ownership of his registration.

The fee will be shared by Elias (20 per cent), agent Carlos Leite (30 per cent) and Corinthians (50 per cent).