Valencia strike terms for Real Madrid midfielder Sergio Canales

Valencia have struck a deal for Real Madrid winger Sergio Canales.

Canales is moving to Valencia on a two-year loan, which will be made permanent for €12 million should he impress.

Only minor details of the transfer need to be rubberstamped, which could include a future close-season friendly.

Valencia are also negotiating with Real for winger Pedro Leon.