Real Madrid's Spanish defender Javi Sanchez receives medical care during the UEFA Champions League group G football match Viktoria Plzen v Real Madrid in Plzen, Czech Republic on Nov 7, 2018. (JOE KLAMAR / AFP)

MADRID - Real Madrid on Tuesday confirmed they have agreed to sell central defender Javier Sanchez to Valladolid for a fee of around 3 million euros.

The 23-year-old will sign a contract with Valladolid until June 30th 2024, although Real Madrid have a buyback option on the player.

ALSO READ: Barcelona & Real Madrid renew close-run title race

"The club wants to thank Javi Sanchez for all of the years of effort, professional behavior and an exemplary attitude, since he joined us as an 8-year-old in 2005," said an official communique on the Real Madrid website.

Sanchez has made only one appearance for the Real Madrid first team, but had been a virtual ever-present in their B-team for three seasons, before joining Valladolid on loan this season.

READ MORE: Inter, Bayern & Real Madrid to co-host 'European Solidarity Cup' in 2021

His campaign has been disrupted by injury, but Valladolid confirm they have signed him "because of his excellent condition and his potential."