A statement from Gareth Bale was published on Tottenham's official website:
I have had six very happy years at Tottenham but it's the right time to say goodbye.
We've had some special times together over the years and I've loved every minute of it.
I would like to thank everyone at the Club, the Chairman, Board, staff, coaches and players – and most of all the fantastic fans who I hope will understand this amazing career opportunity.
I am not sure there is ever a good time to leave a club where I felt settled and was playing the best football of my career to date. I know many players talk of their desire to join the club of their boyhood dreams, but I can honestly say, this is my dream come true.
I am well aware that I would not be at the level I am today were it not for firstly Southampton and then Spurs standing by me during some of the tougher times and affording me the environment and support they have.
– Gareth Bale
Tottenham will always be in my heart and I’m sure that this season will be a successful one for them. I am now looking forward to the next exciting chapter in my life, playing football for Real Madrid.
Real Madrid have paid a world-record fee of 100 million euros (£85.3m) for Gareth Bale, Press Association Sport understands.
Real say 24-year-old Gareth Bale will be presented as their new player at the Bernabeu on Monday at noon UK time.
The transfer is subject to Bale passing a medical with the nine-time European champions, with all other details resolved.
Tottenham chairman Daniel Levy's statement on Bale's transfer was published on the club's official website.
Gareth was a player we had absolutely no intention of selling as we look to build for the future.
He is a player whose career we have fostered and developed and he was only a year into his new four year contract.
Such has been the attention from Real Madrid and so great is Gareth's desire to join them, that we have taken the view that the player will not be sufficiently committed to our campaign in the current season.
We have, therefore, with great reluctance, agreed to this sale and do so in the knowledge that we have an exceptionally strong squad to which we have added no fewer than seven top internationals.
More importantly, we have an immense team spirit and a dressing room that is hungry for success.
We wish Gareth all the best in the future and he shall always be welcome at the Lane.
Chairman, Daniel Levy commented, 'Gareth was a player we had absolutely no intention of selling as we look to build for the future' #THFC
Levy: 'He is a player whose career we have fostered and developed and he was only a year into his new four year contract'
Spanish side Real Madrid have now confirmed the signing of Gareth Bale, 24, on a six-year deal.
The Club can announce that it has reached agreement with Real Madrid for the transfer of Gareth Bale #THFC
"He has moved on and so have we," Tottenham manager Andre Villas-Boas said of Gareth Bale in a press conference this evening.