Real Madrid have completed the signing of Dani Parejo from QPR.

The young midfielder had originally penned a two-year loan with the R's, but that was cut short yesterday.

Real have paid QPR a compensation fee for Parejo, who has also extended his contract two years from 2011 to now 2013.

"You can never say no to Madrid," said Parejo, "and this is what I've been working for all this time."

Parejo will join the Real senior squad for training this morning.