The Los Blancos are willing to play just over $110m for the England mid-fielder, but Dortmund are understood to be over $165m.

Renowned football journalist Fabrizio Romano in a tweet said that the 14-time Champions League winners have made significant progress in the talks and personal terms are almost agreed.

The 19-year-old, who joined Dortmund from Birmingham City in July 2020, was one of England’s top performers at last year’s World Cup.

If all things go as planned, Bellingham, who turns 20 next month, will join the young mid-field of Real Madrid which already features Tchouameni (23) and Eduardo Camavinga (20).

The prospect of that trio playing behind the Brazilians Vinicius Junior (22) and Rodrygo (22), and the Uruguayan Fede Valverde (24) gives Real the belief that they have negotiated a tricky changing of the old guard.