Yan Diomande has left RB Leipzig’s team hotel in Austria to complete his move to Real Madrid.
There is a total agreement between the two clubs for a transfer worth up to £120m as a total package.
Madrid will pay a guaranteed fee of £107m for the 19-year-old.
There are also achievable add-ons included in the deal which could take it to around £116m, plus an additional £4m worth of bonuses deemed harder to achieve.
Diomande has opted to join the LaLiga giants, despite interest from Liverpool and Paris Saint-Germain.
Madrid manager, Jose Mourinho, had urged the board to sign Diomande as he seeks to add speed in his attack.
Transfer: Diomande arrives in Spain to complete Real Madrid move