Real Madrid announced on Monday that the club has agreed to a deal to bring Tottenham midfielder Luka Modric to the Bernabeu.

The 26-year-old passed a medical in Madrid on Monday and has put pen to paper on a five-year contract with the reigning La Liga champions.

Real has been chasing Modric for most of the summer and the two sides have finally agreed on a fee believed to be in the region of $45 million.

"Real Madrid and Tottenham Hotspur have reached an agreement for the transfer of the player Luka Modric, who will remain attached to the club for the next five seasons," read a statement on Madrid's website.

Modric was heavily linked with a move to Chelsea last summer before remaining with Spurs, where he started 36 games and scored four goals.