Updated

Real Madrid has compensated for the loss of goalkeeper Iker Casillas by announcing that it has agreed to a deal with Sevilla for the transfer of Diego Lopez on Friday.

Casillas is expected to out for at least 12 weeks with a fractured bone in his hand, leaving Real Madrid's goalkeeping situation up in the air.

But the reigning La Liga champions have responded by swooping in for Lopez, who is set to join Madrid on a four-and-a-half-year deal.

"Real Madrid and Sevilla have reached an agreement for the transfer of Diego Lopez, who will join the club until the end of the 2016-17 season," read a statement on the official Real Madrid website.

Lopez, 31, came up through the Real Madrid youth system and served as Casillas' understudy until he signed with Villarreal in 2007. He completed a move to Sevilla last summer after the club was relegated out of Spain's top flight.