RIO DE JANEIRO, May 22 (Xinhua) -- Real Madrid will this week finalize their 45-million-euro signing of Brazilian teenager Vinicius Junior, according to widespread media reports.

Despite the deal, Vinicius will remain with the Rio de Janeiro club until his 18th birthday in July next year, the Globo newspaper said on Monday.

Vinicius Junior made his first-team debut for Flamengo earlier this month. He is tied to the club until 2019 and has a 30 million release clause written into his contract.

The 16-year-old has made 19 appearances for Brazil's national under-17 team and scored 17 goals.

Real Madrid are said to have beaten off interest in the teenager from a slew of other high-profile suitors, including Barcelona, Chelsea and Manchester United.