By George Ramsay, CNN

Real Madrid's summer spending spree shows no sign of stopping after the club signed Lyon defender Ferland Mendy in a deal worth up to $54.2 million.

Mendy, a left-back who made 44 appearances for the French club last season, arrives in the Spanish capital along with Eden Hazard and Luka Jovic as head coach Zinedine Zidane looks to bring in new faces following a disappointing season.

The 24-year-old Mendy, a product of Paris Saint-Germain's youth system, made his France debut against Uruguay last year.

"I'm very proud and honored to sign for the biggest club in the world, and to link up with a manager who will help me progress," said Mendy.

"I would like to thank Lyon, the president, the staff, the fans and all my teammates from these past two years. I wish you all the best."

Only last week Real announced the signing of Belgian playmaker Hazard from Chelsea for a reported fee of 100 million ($113 million), while striker Jovic is another of the club's recent acquisitions after signing from Eintracht Frankfurt for 60 ($68 million).

Meanwhile, Real's Spanish rival Barcelona is believed to be close to signing Antoinne Griezmann. The French striker announced last month that he will leave Atletico Madrid at the end of the season.

Spanish champion Barcelona has already signed 22-year-old midfielder Frenkie de Jong from Ajax.

Hazard and de Jong are currently the most expensive transfers of the summer window, along with center-back Lucas Hernandez who has moved from Atletico to Bayern Munich for a fee of 80 million ($90 million).