A video of the goalkeeper signing his contract alongside president Florentino Perez was published on the European champions' Twitter feed.More news: The Academy Just Announced Big Changes to the Oscars
Chelsea have completed the signing of Athletic goalkeeper Kepa Arrizabalaga, breaking the world record fee paid for a goalkeeper by parting with a reported £72m.
Madrid confirmed Courtois will undergo his medical on Thursday before being unveiled to the club's fans at the Bernabeu.
The Spain worldwide has been regarded as one of the best upcoming shot-stoppers in Europe and the Blues have supposedly reached an agreement to sign him amid the uncertainty surrounding Thibaut Courtois' future.More news: United Kingdom house price growth accelerates, Halifax says ZlotoNews
Courtois' actions are set to lead to success and, according to Spanish TV programme El Larguero, Real Madrid are to officially seal the signing of the goalkeeper later this week.
Arrizabalaga becomes the most expensive goalkeeper in football history, ahead of Liverpool's Alisson, who moved from AS Roma for 75 million euros earlier in the transfer window.
"It is an accumulation of things really and I am delighted that the club has signed me". As the part of the contract, Mateo Kovacic, midfielder of the Spanish powerhouse, will join the blues on a season-long loan.More news: More than 500 hikers evacuated from Indonesian volcano
The midfielder has developed a strong friendship with Modric since joining Real Madrid in 2015 and admits he spoke to the former Tottenham player before deciding to move to Stamford Bridge.