Spanish champions Real Madrid are set to make another significant signing after it was reported that they were close to completing a £34million deal for Benfica midfielder Axel Witsel.

Madrid have been linked for some time with Tottenham playmaker Luka Modric, but it seems they have moved to sign another midfielder in the form of Witsel.

The Belgium international had an impressive debut season with Benfica as he particularly shone in European competition and it seems the Portuguese side are now willing to cash-in.

Axel Witsel
Axel Witsel could soon be playing for Real Madrid [Reuters]

A report in Portuguese newspaper 'A Bola' claims that Real Madrid have agreed to meet the release clause of £34milion and that the final touches will be put on the deal at the start of next week.

The paper led with the story on its front page as it claimed that Witsel would complete the move as soon as Real Madrid returned from their tour of North America.

Witsel had been heavily linked with a move to Manchester United over the past two months with the Daily Express reporting that Sir Alex Ferguson was a long-term admirer of the athletic midfielder.

However, the clause in Witsel's contract seemingly ended the interest from Manchester United who are still in search of another central midfielder to add to their ranks.

It seems as though the huge asking price has not deterred Real Madrid who are believed to be willing to offer Fabio Contreao to Benfica on a season-long loan deal as part of the package for Witsel.

Benfica will be making a huge profit on the midfielder, having paid around £6.3million to Standard Liege just 12 months ago.

The 23-year-old went on to play some 49 games in all competitions last season as Benfica were eventually knocked out of the Champions League by Chelsea in the quarter-finals of the tournament.