Real Madrid Demanding ASTRONOMICAL Price for Resale of New Signing Alvaro Morata

Real Madrid have reportedly set a £58m price tag on Juventus star Alvaro Morata forwhen his mooted return to his boyhood club is finalised, according to Italian publicationGazetta della Sport.

Real officially confirmed on Tuesday they had exercised the £30m buy-out clause inserted in the 23-year-old's contract after comments attributed to Juve chief executive Giuseppe "Beppe" Marotta stated an official offer is all that is needed after the Madrid's initial approach.

Real Madrid announce signing of Alvaro Morata & say he will join their squad for pre-season training https://t.co/zYC5mzT33r

The official announcement asserts Morata will join up with Zinedine Zidane and the rest of the squad for pre-season in July but reports have suggested that there is unlikely to be a future for the Spain international at the Bernabeu.

It is understood last season's Champions League winners have placed a hefty £58m price tag on the striker, with a number of Premier League clubs keen on bringing him to England.

Arsenal are reportedly keen on signing the 23-year-old to bolster their attacking options in the event Leicester City star Jamie Vardy turns down their offer, but Manchester United have also been rumoured to be interested in securing Morata's services.

While his club career looks unclear at this moment in time, Morata has been impressing on the international stage with Spain at Euro 2016.

He is now the tournament's joint top goalscorer with three goals alongside Real Madrid teammate and Wales superstar Gareth Bale after scoring the opening goal in Spain's 2-1 defeat to Croatia on Tuesday. It followed his brace in La Roja's 3-0 victory over Turkey in their penultimate group stage match.