The club president is delighted with the winger's arrival and says the Santiago Bernabeu side will always be looking to add high-profile names to their squadClub president Florentino Perez says Real Madrid will continue to attempt to buy the best players in the world following the arrival of Gareth Bale from Tottenham, and feels the signing of the winger fits the club's policy.
The 24-year-old signed a six-year deal with Madrid on Monday after passing his medical earlier in the day to complete his transfer to the Santiago Bernabeu side, and Perez was elated with the Welshman's arrival.
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"Negotiations with Tottenham were complicated and very intense, but I want to thank them for giving us the chance to sign this great player. I would like to make it clear that Bale's determination to join Madrid was crucial for the deal to happen.
"Gareth is a young player with huge qualities, who now realises his dream to play for Real Madrid. Years ago, a young Welsh boy had a dream to wear the Real Madrid shirt. Gareth, this dream is now a reality.
"Bale becomes an heir of the great players that wore the Madrid jersey before. We will always try to sign the best players in the world. That is the strategy which made Madrid the greatest club of the 20th century."
Bale himself, meanwhile, was very pleased with the transfer and was quick to thank the fans for their warm welcome.
"It's a dream for me to play for Real Madrid. Thank you for this great welcome. Hala Madrid," the winger said in Spanish.
"I hope I can help bring success to the club and that we can win the club’s 10th European Cup."