Diego Lopez has officially signed for AC Milan after completing his transfer from Real Madrid.

Los Blancos confirmed the news and made a statement in the regard which read:

“Real Madrid and AC Milan have reached an agreement for the transfer of Diego Lopez. We would like to thank Diego for his dedication and professionalism as well as wish him the best of luck with his new team.”

It is believed the transfer was essentially for free, with Real Madrid only receiving performance-related bonuses at the end of the season.

Milan also released a statement confirming Diego Lopez has signed a contract holding him to the club until July 30 2018.

The player, who was brought to Madrid by Jose Mourinho as cover for the injured Casillas during the 2012-13 season, already had spoken about his departure and said that he remained grateful to the La Liga giants and said that he would like to come back to the club in an employee capacity someday.

“It has a very happy time in my life and I can only say thanks to Madrid. I will remember all the good things. It is a sad moment but you have to be positive. I will have the opportunity to say my farewells to all of Madridismo, which they deserve. Everything has happened very quickly. Will I come back? I think a third spell as a player is unlikely. Maybe one day as a club employee. I am very happy to be moving to a club like Milan”

Lopez was first choice in La Liga for Carlo Ancelotti’s side last season but following the signing of Keylor Navas from Levante, his chances of regular game-time was threatened. Ancelotti had in fact, made it clear earlier this summer that he considered the goalkeeper a prized asset of his squad, but with three top keepers battling for one position, it was likely that the shot-stopper would find his chances curtailed. It was also brought to the fore recenltly that Iker Casillas had ‘regained favor’ and would be battling Navas for the No.1 spot.

He became Milan’s sixth new signing of the summer, following Jeremy Menez, Alex, Michael Agazzi, Michelangelo Albertazzi and Adil Rami.

Real Madrid tweeted: