Atletico Madrid signs Yannick Ferreira-Carrasco from Monaco

Atletico Madrid didn't waste any time replacing Arda Turan.

The club announced the signing Friday of Belgian international Yannick Ferreira-Carrasco from Monaco, inking the winger to a five-year contract.

(Courtesy: Atletico Madrid)

The 21-year-old, who helped Monaco reach last season's Champions League quarter-finals, had been targeted by Atletico as they looked to replace Turan, who joined Barcelona on Monday for a fee that could reach 41 million euros.

Atletico sporting director Jose Luis Perez Caminero had this to say of the deal:

We are very satisfied with the agreement reached with Monaco, because Yannick is a player with huge prospects and with an incredible future. He is a player with great speed, excellent at driving the ball and with a great shot. He will contribute perfectly to our goal of increasing the level of our team and the competitiveness of the group. I am convinced that he will contribute plenty.

Reports suggest that Atletico will pay an initial fee of 15 million euros on top of which will be added bonuses, including 25 percent of any future sell-on fee.

The right-footed left-winger broke into the full Belgian squad last season and scored six goals to help the principality club finish third in Ligue 1.

Monaco have already sold France midfielder Geoffrey Kondogbia to Inter Milan for a reported 35 million euros this summer, while veteran forward Dimitar Berbatov has been released.

Atletico is making its second major signing in a matter of days after Argentine forward Luciano Vietto joined from Villarreal for a reported 20 million euros.