Manchester United has signed French back Raphael Varane from Real Madrid, confirmed the "Red Devils" on Tuesday.

"Manchester United is delighted to announce the club has reached agreement with Real Madrid for the transfer of French international defender and World Cup winner, Raphael Varane, subject to a medical and to player terms being finalized," said Man United in a statement.

"Real Madrid C. F. and Manchester United FC have agreed on the transfer of player Raphael Varane. Our club thanks him for his professionalism and exemplary behaviour during the ten seasons in which he has defended our jersey, with which he has won 18 titles: 4 Champions League, 4 Club World Cups, 3 European Super Cups, 3 Leagues, 1 Copa del Rey and 3 Spanish Super Cups. Real Madrid wants to show all its affection to Raphael Varane and his family and wishes him the best of luck in this new stage of his professional career," said Real in a statement.

Man United will pay an initial 41 million euros (about $48.4 million) for Varane who will sign a four-year contract with the option of an additional year, according to The Associated Press (AP). There is also an add-on of 8.2 million euros (about $9.7 million) of the transfer. A solidarity payment due to Lens, where Varane played for most of his youth career and the first senior year, will come from Real.

Man United finished the 2020-21 Premier League season with a 21(win)-11(draw)-6(loss) record, ranking No. 2 after Manchester City. The English giants lost to La Liga's Villarreal in shootout in the UEFA Europa League Final.

Looking forward to winning more than the UEFA Champions League qualification in the new season, Man United were spending big on the transfer market. They paid 85 million euros (about $100.3 million) to sign Jadon Sancho from Borussia Dortmund. Introducing Varane will become the third purchase the club make so far.

By contrast, Real continued to watch key players leave – first Sergio Ramos to Paris Saint-Germain (PSG) as a free agent, now Varane. Estadio Santiago Bernabéu held no trophy at all last season and Real may face retribution from UEFA from trying to establish "European Super League."