LYON, France (LEO) -- Lyon has agreed to sell highly-rated France striker Karim Benzema to Real Madrid in a deal which could be worth up to $67 million, the French club said on Wednesday.
Lyon said on its Web site that Madrid will pay a minimum fee of $57.4 million, rising to up to $58.1 million with performance bonuses.
"Lyon has accepted Karim Benzema's decision and has negotiated the terms of a transfer which satisfies all sides," Lyon said in a statement. "The club wishes Karim the best of success with Real Madrid."
The Spanish club headed off stiff competition from Manchester United to secure a deal for the 21-year-old Benzema, considered one of the most exciting young players in Europe.
He becomes Madrid's third major signing under its ambitious president Florentino Perez.
Madrid has already bought midfielder Kaka from AC Milan, winger Cristiano Ronaldo from United -- and also defender Raul Albiol from Valencia. Madrid spent a record $131 million on Ronaldo.
"The player wishes to take the opportunity offered to him by Real Madrid to become one of the key players in an ambitious new policy involving several of the world's biggest players," Lyon said.
Perez has vowed to bring success back to Madrid after returning to the presidency in June. Last season, fierce rival Barcelona won the Spanish domestic double and the Champions League.
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