Spanish newspaper AS says Real have completed the signing of the 19-year-old.

Montero said: "I have reached an agreement to sign with Real Madrid.

"Everything has been confirmed and all that remains now is for me to be presented at the club and to sign the documents and I will be at the disposal of my new team."

"Madrid have been observing Montero since the 2007 Pan-American Games in Brazil [where Ecuador’s sub-18 side won the gold medal]," Montero's agent, Diego Herrera, disclosed.

"They continued to track his progress through videos of his matches with Emelec, Independiente Jose Teran, and with Ecuador’s U-20 team in the recent South American Championships in Venezuela."