Arsenal have confirmed they have signed Real Madrid midfielder Dani Ceballos on a season-long loan deal.

The Gunners have been financially struggling this summer, so the loan market was always high on Unai Emery's agenda, and Ceballos had always been in his list for months.

Ceballos drew a lot of interest, notably from rivals Tottenham Hotspur, but it was Arsenal who won in the end, announcing the deal in their official website confirming that they have already secured the player's signature. In a short statement, Emery was all praises for Ceballos, remarking of his talents and "big technical ability." The manager also expressed his excitement on behalf of the club.

There had been obstacles before the deal was finalized. Doubts were cast following Real winger Marco Asensio's knee injury in Wednesday's win over the Gunners. Emery even admitted that he was unsure if Real would permit the deal.

Despite Asensio's injury, Real have allowed Ceballos to head out on loan so he would gain experience for himself. The London club won't have the option to buy the midfielder when his loan expires but will his full 3-million-euro yearly wage.

The 22-year-old made just 13 La Liga starts for Los Blancos last season and were often left in the shadows of Toni Kroos and Luka Modrik from the starting lineup. With Spain, he enjoyed an amazing European Under-21 Championships, prompting him to be named in the Team of the Tournament the second time around. There was a lot of sides interested in securing a temporary deal for Ceballos as well.

Ceballos will replace Aaron Ramsey, who left the club recently to join Juventus. Emery is reportedly keen on adding more firepower in midfield.

When asked of his decision to choose Arsenal amid interest from other Premier League clubs, this is what Ceballos has to say: "I knew I had the confidence of the coach, which was very important for me from the start. I was aware of the responsibility that wearing this shirt entails and it was a tremendously proud moment when I decided to join Arsenal."

Ceballos hopes to impress Zidane during his in England, and with an Estadio Santiago Bernabeu contract until 2023, he plans to be back to Los Blancos after the expiration of the loan.

Ceballos is the latest to depart Real Madrid. Previous players include Luca Zidane (Racing Santander), Raul de Tomas (Benfica), Marcos Llorente (Atletico Madrid), Mateo Kovacic (Chelsea), Sergio Reguilon (Sevilla), and Theo Hernandez (AC Milan).