Real Madrid's first signing of the Carlo Ancelotti era is Malaga's attacking midfielder Isco, for a figure reported to be around €30 million. Having recently been on duty with the successful Spanish under-21 side at the European Championships, the whole continent has awoken to the talents of the creative player over the past 12 months.
After a season of unrest and playing catch up in La Liga, Real Madrid will see the signing as symbolic of the new regime. They will once again be filled with optimism that they can become the dominant power domestically and, given time, finally reclaim their European crown.