Latest development: It has now been confirmed that the club was preparing a fitting tribute for Ramos' departure. They have not confirmed that he will be leaving the club.

There is finally some movement in the Sergio Ramos contract saga, with Real Madrid previously reported to have been ready to put a new contract extension offer on the table. this has now been debunked. The club captain's current contract expires in just two weeks, and it has been confirmed that he will end up leaving the Spanish giants after previous contract negotiations fell through.

According to well-known Real Madrid commentary website Managing Madrid, Spanish media has been reporting that Ramos changed his stance and is now willing to accept a one-year deal. This did not turn out to be the case. It may be remembered that he rejected an offer in January, which included a one-year extension and a 10% pay cut.

The offer was reportedly taken off the table after five months, with Real Madrid unwilling to change the terms. Ramos wanted a two-year contract, but the club we unwilling to offer anything more than a one-year deal plus pay cut.

It definitely made more sense for Ramos to be the one to compromise, owing to the fact that he has played only a handful of competitive matches since January. That did not give him the opportunity to attract potential suitors who may have been able to compete with Madrid's offer.

Due to the recent revelation that Frenchman Raphael Varane is also planning to leave this summer, Los Blancos now stand to lose two key members of their defence.

Ramos is one of the major players who are expected to cause a massive ripple effect in this summer's transfer window. It is still unclear where he is going, but he will definitely throw off the balance in Real Madrid much like what happened when Cristiano Ronaldo left the club.

Real Madrid has so far remained quiet when it comes to incoming transfers, but these recent developments will surely mean that more inbound movement will be coming soon.

Sergio Ramos
Sergio Ramos celebrates as Real Madrid beat Barcelona 2-0 AFP / GABRIEL BOUYS