Marco Asensio will reportedly stay at Real Madrid for the 2022-23 campaign before leaving the Spanish and European champions on a free transfer next summer.
The 26-year-old's future has been the subject of much speculation in recent months, with a number of clubs, including Arsenal, Manchester United and AC Milan, said to be interested in his services.
Los Blancos boss Carlo Ancelotti said towards the end of August that Asensio was looking to leave Bernabeu before the transfer deadline.
"Marco is looking at things to see if he can leave. If he doesn't leave, he will 100% be a Madrid player," Relevo quoted the Italian as saying.
When asked again about the attacker last Saturday, Ancelotti told reporters: "I don't know anything new about Asensio, he is evaluating his situation. On September 2, everything will be clear and if he stays he will be an important player. I will be delighted because last year he contributed a lot."
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The transfer deadline ultimately passed with Asensio still at Bernabeu, and according to AS, the Spaniard is planning to spend the entire 2022-23 campaign with the capital giants.
Asensio is said to be preparing to leave Real Madrid when his contract expires next June, and he would be free to hold discussions with foreign clubs in January.
The forward's agent, Jorge Mendes, allegedly attempted to secure an exit for his client over the summer, but a concrete offer did not arrive despite interest from a number of clubs.
Asensio was a regular for Real Madrid during the 2021-22 campaign, making 42 appearances in all competitions, contributing 12 goals and two assists in the process.
The attacker has only played seven minutes of La Liga football this term, though, with Federico Valverde and Rodrygo ahead of him in the pecking order for a starting role on the right.
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Real Madrid were relatively quiet during the summer transfer window, only bringing in Aurelien Tchouameni and Antonio Rudiger to boost their midfield and defence respectively.
A number of players were allowed to leave, though, with the standout departure being Casemiro, who was allowed to make the move to Manchester United in a big-money deal.
Borja Mayoral and Takefusa Kubo were among those to leave on permanent deals, while Isco, Luka Jovic, Gareth Bale and Marcelo departed on free transfers.
Dani Ceballos and Mariano Diaz were also linked with exits over the summer, but the pair have remained with the La Liga and Champions League holders past the transfer deadline.