Atletico Madrid have agreed to turn Gelson Martins' loan move to Monaco into a permanent transfer, the two clubs announced on Monday.

Martins has signed a five-year contract with Monaco after playing for the French team from late January until the end of last season.

"AS Monaco is thrilled to announce the signing of Gelson Martins," Monaco wrote on Twitter.

"Originally on loan from Atletico Madrid, the attacking midfielder has put pen to paper on a five-year permanent deal."

An Atletico Madrid statement read: "Atletico Madrid and AS Monaco have reached an agreement for the transfer of Gelson Martins.

"The midfielder moved to Monaco on January 27 and, after an agreement was reached, will remain with the Monte Carlo club."

Martins signed for Atletico last summer from Sporting Lisbon but only played 12 competitive matches and has said he struggled to adapt to Diego Simeone's style.

The 24-year-old played a more prominent role with Monaco, scoring four goals in 16 Ligue 1 games during his loan spell and helping the team steer clear of relegation.