Bayern Munich have confirmed the signing of Xabi Alonso from Real Madrid.
Madrid confirmed on Friday that they have reached an agreement to sell the 32-year-old to the Bundesliga champions, who have since announced the deal via their official Twitter account.
The former Spain international becomes the second midfielder to leave the Champions League holders this week after Angel Di Maria joined Manchester United on Tuesday.
"Real Madrid C.F. and Bayern Munich have reached an agreement for the transfer of Xabi Alonso," the Spanish club announced in an official statement on Friday morning.
"The player will speak to the media today (Friday) at 11:00h in the Santiago Bernabéu press room, alongside director of Institutional Relations, Emilio Butragueño."
The former Real Sociedad and Liverpool midfielder is Bayern's second major signing of the week, following the arrival of defender Medhi Benatia from Roma.
Bayern had been targeting another holding midfielder as fears over Bastian Schweinsteiger's knee injury continue to grow. The Germany international has been struggling with knee problems for most of 2014.
Thiago, another option in holding midfield, has been sidelined with knee problems since March and is currently working on his return while Javi Martinez -- who can play in defence and holding midfield -- suffered torn anterior cruciate ligaments during the German Super Cup defeat to Borussia Dortmund earlier this month.
Champions League group stage
A: Atletico Madrid, Juventus, Olympiakos, Malmo
B: Real Madrid, Basel, Liverpool, Ludogorets
C: Benfica, Zenit, Leverkusen, Monaco
D: Arsenal, Dortmund, Galatasaray, Anderlecht
E: Bayern Munich, CSKA Moscow, Man City, Roma
F: Barcelona, PSG, Ajax, APOEL
G: Chelsea, Schalke, Sporting, Maribor
H: Porto, Shakhtar, Athletic Bilbao, BATE