Chelsea's hopes of signing Bayern Munich star Toni Kroos have been all but extinguished after the player himself confirmed his imminent transfer to Real Madrid.

Spanish reports have been claiming for the last few weeks that the Champions League winners had beaten Chelsea in the race for Kroos after agreeing terms with both Bayern and the player.

However, Kroos' agent Volker Struth recently denied the reports giving Chelsea some hopes in their battle with the Spanish giants to secure his services.

"I can promise that we haven't made any decision yet about Kroos' future. We will sit down together and make a decision which we will announce on Tuesday evening or Wednesday morning."

And Kroos himself has confirmed his decision to Spanish newspaper AS after he was spotted by a reporter in Mallorca on holidays after the World Cup.

Responding to questions about his move to Real Madrid, the 24-year-old added: "In the next two days I'll be able to go to Madrid."

Nevertheless, he added: "It isn't official, I can't say anything."

Earlier, Bayern's managing director Karl-Heinz Rummenigge confirmed Kroos' departure.

"We didn't want to lose him next year without receiving his buy-out clause", said Rummenigge as the 24-year-old has only one-year left on his contract at the Allianz Arena and will become a free agent next summer.

"We are obliged to take care of the club's finances, and we couldn't afford that luxury," he added.

Furthermore he confirmed the negotiations with Real Madrid, "It's correct that there have been conversations with Madrid about Toni."

Spanish reports have also claimed the German star will be unveiled shortly as a Real Madrid player, having already reached an agreement with Bayern to pay around £20m plus add-ons.

Chelsea have already bolstered its midfield with Cesc Fabregas but it was understood Mourinho was also keen on bringing in Kroos.