(CNN) -- Real Madrid striker Alvaro Negredo has been sold to Spanish Primera Liga rivals Sevilla in a reported $21 million deal.
Negredo scores for Real Madrid in the Peace Cup earlier this month.
The highly-rated Negredo was surplus to requirements at Real, who are looking to recoup some of the massive $363 million they have spent in the close season transfer window.
Negredo has signed a five-year deal at Sevilla, but Real Madrid confirmed on their official Web site www.realmadrid.com that they had the option to buy him back for the next two years.
Negredo only rejoined Real last month having been loaned out to Almeria for the past two seasons, scoring 19 goals in the last campaign.
But he would have been struggling to win a regular first team place after the club's signings of Kaka, Karim Benzema and Cristiano Ronaldo over the summer.
Negredo completed his move after having a medical in Sevilla on Friday morning with last season's third-placers in La Liga clearly delighted with their acquisition.
"Sevilla have recruited one of the best strikers in Europe," the club said in a statement on their official Web site.