Real Madrid officially sign David Alaba on free transfer

Austrian star David Alaba has officially joined Real Madrid on a free transfer from Bayern Munich, the Spanish club announced Friday.

The 28-year-old, who signed a five-year contract with Los Blancos, will earn around €12 million per season, according to The Guardian's Fabrizio Romano.

Confirmation of the deal was widely considered a formality. Madrid reportedly reached an agreement with Alaba in January, beating out competition from Chelsea.

Alaba became one of the game's best utility players during his 13 years at Bayern. He also contributed offensively, registering 33 goals and 55 assists in 431 appearances for the Bavarian side. The left-footed phenom won 27 trophies in all, including 10 Bundesliga titles and two Champions League triumphs.

Madrid moved quickly to sign one of the summer's biggest free agents. But it's unclear whether the club - which endured its first trophyless season since 2009-10 - will re-sign captain Sergio Ramos or sell defensive mainstay Raphael Varane. Ramos' contract expires June 30, while Varane's runs out next year.

If both stay, Alaba could easily play as a left-back or holding midfielder alongside former Bayern teammate Toni Kroos.

Madrid managed to accommodate Alaba's salary despite reporting a loss of €91 million in 2019-20 and gross debt nearing €1 billion.