The Spanish giants have agreed a £6.7million fee to sign the Portugal defender.
“Chelsea Football Club can confirm it has agreed terms with Real Madrid for the transfer of Ricardo Carvalho,” a Chelsea statement read.
“The transfer is subject to a medical and the player agreeing personal terms.
“Chelsea would like to thank Riccy for his six years of service, and we wish him well in his future career.”
A Madrid statement read: “Real Madrid CF and FC Chelsea have reached an agreement for the transfer of Ricardo Carvalho.
“The player will be linked to Real Madrid CF the next two seasons.”
