Diaz underwent a medical at Real Madrid on Monday
Monday 7 January 2019 15:59, UK
Real Madrid have confirmed an agreement with Manchester City to sign winger Brahim Diaz on a six-and-a-half-year deal.
Sky Sports News understands Real will pay City an initial fee of £15.5m for the 19-year-old, which could rise to £22m through a series of add-ons.
City have a 15 per cent profit on any future sale, but that will rise to 40 per cent should Madrid sell Diaz to Manchester United.
Diaz had rejected City's offers of a new contract and was due to become a free agent in the summer.
Real Madrid posted a picture of Diaz undergoing his medical to the club's Twitter feed on Monday morning.
"Today I close a chapter of my life and I say goodbye to Manchester City, the club where I have grown," Diaz said in a statement on Instagram.
"I came here being a kid and now I am a professional footballer. Thank you to all the managers in the club, from the academy to the first team, for believing in me because they taught me not only to be a better player, but a better person."
He had only managed five Premier League appearances for the reigning champions, all of which came last season, and a total of 15 senior outings for the club since his debut in 2016.
Diaz, who joined the club from Malaga's academy, found his opportunities limited by the arrival of senior internationals Raheem Sterling, Leroy Sane and Riyad Mahrez.
A Real Madrid statement said: "Real Madrid and Manchester City have agreed to the transfer of the player Brahim Diaz, who will be committed to the club for the remainder of the season and the next six, until June 30, 2025.
"After a medical examination to be held tomorrow, Monday January 7, the player will be presented at 1:30pm at the Santiago Bernabeu stadium."
