Real Madrid president Florentino Perez is ready to sign Atletico Madrid defender Theo Hernandez.

Marca says for just €24 million, Real Madrid are ready to pay for Theo's buyout clause, and there isn't anything Atletico Madrid can do about it to avoid the current on-loan Alaves player from joining Los Blancos.

The last time Perez splashed out on a buy-out clause was to lure another player away from a major rival - none other than Luis Figo from Barcelona.

Back in 2000/01, Perez promised he'd sign Figo if he won the Real Madrid presidential elections, which he followed through on after paying the Portuguese star for roughly 60 million euros.

That same season, Santiago Solari was signed from Atleti as they were relegated.