Real Madrid completed the signing of Asier Illarramendi from Real Sociedad with Florentino Perez also insisting Kaka is set to stay at the Bernabeu next season.

Illarramendi agreed a six-year deal with Real and will be officially unveiled to the press and the fans on Saturday after he completes a medical, with Real paying Sociedad a massive €32 million (£27.7 million, $41.8 million) for the 23-year-old's services.

"Real Madrid C.F. have signed Asier Illarramendi and he will be with the club for the next six seasons," the club said in a statement on their official website.

The Spanish club have been on a spending spree on young players, with Illarramendi becoming Real's fourth summer signing of the season, all of whom are under the age of 24.

"We have signed young players that are hungry to achieve and that's vital so that our established players don't get too comfortable," Real Madrid president Perez said. "That mix of youth and experience will raise the team's quality.

"We are beginning a new era after (Jose) Mourinho's departure. We have another coach (Carlo Ancelotti), who is also very demanding, and we are very excited."

Meanwhile, Perez also insisted Kaka is set to stay at Real for at least another season, with the Brazilian midfielder hoping to resurrect his career under Ancelotti, the manager he had so much success with while at AC Milan.

"Kaka is a phenomenon, but he got injured in the last World Cup and had to have an operation on his knee," Perez told Gol Caracol De Colombia.

"Then (Mesut) Ozil arrived and took his place in the team from him, but he is still one of the greats of the game. He is the second most followed footballer on Twitter, after Cristiano Ronaldo.

"He is charming and excites the fans. I'm optimistic that, under Ancelotti, who knows him very well, he can be the same magical Kaka again that we signed."