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Benfica confirm transfer of Fabio Coentrao to Real Madrid

Benfica have confirmed the sale of Fabio Coentrao to Real Madrid for €30 million. The left-back will join Jose Mourinho's squad once he completes a medical in the Spanish capital.

A statement released to the Portuguese stock market (CMVM) on Tuesday by Benfica reads:

"Sport Lisboa e Benfica, in agreement with the terms of article 248 of the stock market values code, informs that it has reached an agreement in principle with Real Madrid CF for the complete transfer, total sporting and economic rights of the athlete Fabio Coentrao for the value of €30m.

"The aforementioned agreement will be formalised as soon as the player concludes the medical examinations he will be undertaking with the consent of Sport Lisboa e Benfica, and a working contract between the player and Real Madrid FC agreed."

Earlier, A Bola claimed Coentrao had clinched a five-year deal after agreeing personal terms following a meeting held in Madrid with Real officials on Monday evening.

Following those reports, Benfica admitted they were in talks with Florentino Perez's side for the transfer of the left-back.

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