Atletico Madrid's summer spending is encroaching on $300 million USD after their latest signing of Spanish defender Mario Hermoso from Espanyol for €29 million. 

The 24-year-old had less than 12 months remaining on his contract with Espanyol but still demanded top dollar on the transfer market. 

A product of Real Madrid's youth system, Hermoso only made his top flight debut in the 2017-18 season and has enjoyed a rapid rise. The Spaniard had an excellent 2018-19 season helping Espanyol to an impressive 7th place La Liga finish. 

Hermoso signed a five year deal with Atletico and Esponyol retain a 20% sell-on clause. He joins a long list of new arrivals in Madrid including Joao Felix, Marcos Llorente, Felipe, Hector Herrera, Renan Lodi, Nicolas Ibanez, Ivan Saponjic and Kieran Trippier.