Joselu has reportedly signed a two-year deal with Qatari outfit Al Gharafa.
On Thursday, Espanyol released a statement announcing that Real Madrid had taken up their purchase option on the experienced forward, who spent the 2023-24 campaign at Bernabeu.
"Real Madrid has informed RCD Espanyol that it is executing the purchase clause for Joselu Mato, included in the agreement reached a year ago between the two clubs. Therefore, Joselu is no longer a white-and-blue player," read a statement from Espanyol.
"RCD Espanyol wishes him luck in his new professional adventure."
However, Joselu will seemingly not be representing Los Blancos during the 2024-25 campaign, with the Spain international instead set to continue his career in Qatar.
Joselu 'signs two-year deal with Al Gharafa'
Real Madrid will allegedly sell Joselu for the same €1.5m (£1.3m) that they paid Espanyol, with the European champions keen to help the striker secure the lucrative switch.
According to Italian journalist Fabrizio Romano, all of the documents were signed on Friday afternoon, with the experienced forward penning a two-year deal with the option of a further 12 months.
Al Gharafa are now expected to confirm his arrival on a free transfer.
Joselu proved to be a vital squad player for Los Blancos during the 2023-24 campaign, scoring 10 goals and registering two assists in 34 La Liga appearances.
Meanwhile, the forward scored five times in 11 Champions League outings, including twice against Bayern Munich in the second leg of Real Madrid's semi-final with the German giants.
Joselu is currently with Spain at Euro 2024
Joselu's excellent campaign, which saw him manage 17 goals and three assists in 49 appearances in all competitions, led to him receiving a spot in Spain's squad for Euro 2024.
The forward was an unused substitute for his country's first two games of the tournament against Croatia and Italy, but he played 72 minutes of their 1-0 success over Albania last time out.
Joselu had represented Espanyol during the 2022-23 campaign, scoring 17 times in all competitions, but he left following the Catalan outfit's relegation to the Segunda Division.
The Spaniard is the second Real Madrid player to secure a switch since the end of the season, with experienced defender Nacho also leaving the Spanish giants for Al Qadsiah.
