Wolverhampton Wanderers have signed defender Jonny Castro Otto on a season-long loan from Atletico Madrid.

The 24-year-old completed his move from Celta Vigo to Atletico earlier today and has been immediately loaned out to newly-promoted Wolves for the entirety of the 2018-19 campaign.

Castro is a full-back who can play on either the left or the right side, and becomes Wolves' second signing of the week following the £5m arrival of Joao Moutinho on Tuesday.

The Spaniard made more than 200 senior appearances for Celta before joining Atletico, where he has penned a new six-year contract to keep him at the club until 2024.

Castor could make his competitive debut for Wolves in their opening match of the new Premier League season against Everton on August 11.