The Athletic reported that the 19-year-old English footballer who was previously linked to Manchester City and Liverpool, will undergo a medical with the Spanish club in the coming days.
The deal which is believed to be one of the largest transfer fees in both clubs’ histories has not been signed, but that is among the formalities that will follow.
Unlike Real Madrid, Premier League suitor Manchester City ‘has not submitted offers or provided financial numbers to Dortmund or Bellingham regarding a transfer fee or salary’.
Bellingham has made more than 130 appearances since joining Dortmund from Birmingham for just over £20 million three years ago.
Former Real Madrid and Liverpool winger Steve McManaman believes Bellingham will “be treated like a King” if he completes a move to the Bernabeu.
If the deal falls through, Bellingham will become the third most expensive teenager signed in football history. His fee will put him just behind Joao Felix’s £115million move to Atletico Madrid and Kylian Mbappe’s £130million switch to Paris Saint-Germain.
It will also make him the most expensive English teenager in football history, rising above Luke Shaw’s £33.75 million price tag for his move from Southampton to Man United in 2014.
Los Blancos have also set their sights on Bellingham’s England teammate Harry Kane, with Carlo Ancelotti making it clear he wants the striker.