Gareth Bale has agreed personal terms with Real Madrid ahead of his world-record move from Tottenham.
However, the Spanish giants are still in discussions over the fee for the 24-year-old forward, with a bid of £86m already submitted to Spurs.
"While talks in Madrid took some days, this was always a formality," says BBC chief sports correspondent Dan Roan.
"The agreement over personal terms has no bearing on the timing of the actual transfer being announced."
In addition to the world-record offer, which would eclipse the £80m Real paid Manchester United for Cristiano Ronaldo in 2009, the Bernabeu club have also submitted an alternative bid of close to £70m, which would be a one-off payment for the Wales international.
"The conclusion of talks over personal terms is separate from negotiations between Real Madrid and Spurs regarding the amount and structuring of a transfer fee," Roan added.
"All that remains now is for Spurs to formally accept Real Madrid's offer and to agree on simultaneous announcements."
Bale, who joined Spurs in a £10m deal from Southampton in 2007, was named player of the year by both the Professional Footballers' Association and Football Writers last season after scoring 26 goals for the White Hart Lane side.
He has been linked with a move to Real all summer, with Spurs manager Andre Villas-Boas saying on Wednesday the transfer "could happen very, very soon".
The north London club have been active in the transfer window themselves, with seven international players signed for a total outlay understood to be nearly £105m.