Chelsea have agreed to sell defender Ricardo Carvalho to Real Madrid for a reported fee of €8 million.
Chelsea have confirmed the two clubs have come to an agreement and Carvalho, 32, will now sign a two-year contract at the Bernabeu. Carvalho will become Real's fifth signing of the summer transfer window, following Angel Di Maria, Sergio Canales, Pedro Leon and Sami Khedira, when the deal is finalised.
A club statement read: "Chelsea Football Club can confirm it has agreed terms with Real Madrid for the transfer of Ricardo Carvalho. The transfer is subject to a medical and the player agreeing personal terms. Chelsea would like to thank Riccy for his six years of service, and we wish him well in his future career."
At the weekend, Jose Mourinho suggested that Carvalho's advancing years meant he was unlikely to link up once again with the defender, who under the new Real coach won the 2004 Champions League with Porto and two Premier League titles with Chelsea.
However, Real saw their bid to sign Inter Milan right-back Maicon collapse and while Benfica's David Luiz and AC Milan's Thiago Silva were alternative targets, they have turned to Carvalho in an effort to improve their defence.
Carvalho, who joined Chelsea from Porto in the summer of 2004 for a fee of £19.85 million, recently claimed he has been given permission to leave Stamford Bridge and that he would go to Madrid "swimming or running", such is his desire to be reunited with Mourinho.
The Portugal international picked up a third Premier League title last season but has seen his first-team chances reduce in recent seasons, with Brazilian defender Alex finding favour under Guus Hiddink and then Carlo Ancelotti.
If Carvalho does complete his move to Real then he will join Joe Cole, Michael Ballack, Deco and Juliano Belletti in leaving Stamford Bridge this summer.