And the Blues have been tipped to sign Athletic Bilbao goalkeeper Kepa Arrizabalaga.
His arrival could pave the way for Tiemoue Bakayoko to leave Chelsea, with reports in Italy claiming that AC Milan are interested in taking him on a season-long loan with an option to buy next summer.
Personal terms will now be discussed and if true, Kepa will be in London tomorrow for a medical and so on.
Courtois played a total of 154 appearances for Chelsea, winning the Premier League on two occasions.
Kepa nearly joined Madrid himself in January only for the deal to fall through with his price at just £17.5m.
Despite that impressive signing, Maurizio Sarri's main acquisition before the deadline is set to be Kepa.
The Croatia global is expected to join the Blues on a season-long loan as part of an agreement which should witness Thibaut Courtois' permanent exit from the club.
"Real Madrid C.F. and Chelsea F.C. have agreed the transfer of Thibaut Courtois, who has signed for the club for the next six seasons, ” said Madrid in a statement".
"So many things attracted me to the club, all the titles the club has won, the other players, the city, the English Premier League".
His future has always been speculated amid Madrid's pursuit of Manchester United keeper David de Gea, however, the veteran has played a key role in the capital.
Kepa had been with Athletic since 2004, rising through the youth ranks.
Kepa's deal eclipsed the 72.5 million euros Liverpool paid Roma to make Alisson Becker the world's most expensive goalkeeper in July.
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