Chelsea are finally prepared to let the Belgian leave the club after activating the release clause in Athletic Bilbao goalkeeper Kepa Arrizabalaga's contract.
Athletic have already announced that the 23-year-old will be leaving the club, thus allowing the goalkeeping transfer merry-go-round to begin.
According to the aforementioned source, Courtois will arrive in Madrid on Thursday to complete a medical and complete the formalities of the deal.
Terms are already thought to have been agreed between both clubs and with the player. Courtois is expected to sign a five-year deal in the Spanish capital, with Chelsea making €35m from the deal.
Interestingly, former Real Madrid target Kepa has proved key to the deal, despite snubbing Madrid's interest earlier this year by signing a new long-term contract with the Basque outfit.