Madrid, Aug 21 (IANS): Spanish heavyweights Real Madrid have reached an agreement to loan 19-year-old attacking midfielder Marco Asensio to Barcelona-based club Espanyol for the 2015-16 season.

The deal was confirmed on Thursday, while Asensio, who Real Madrid signed from Spanish side Real Mallorca in January, was officially presented by his new club on Friday, reports Xinhua.

The deal gives Asensio, who has impressed in pre-season with Real Madrid, a chance to continue his development as a player.

"Quite a few clubs had asked to take me on loan, but Espanyol are a big club and the ideal place for me to keep developing," said Asensio in a press meet on Thursday.

"I really want to settle in quickly. It's my first year at the top level and I hope to make everyone happy. I'll work hard so that the team finish as high in the league as possible," he commented.

He is likely to make his first team debut on Saturday when Espanyol entertain Getafe.