Chelsea have agreed to sell Belgian goalkeeper Thibaut Courtois to European champions Real Madrid, the Premier League club said on Wednesday.

Real will pay an initial 35 million euros ($40.7 million) for Courtois, Spanish media reported.

"We have tonight agreed terms with Real Madrid for the transfer of Thibaut Courtois, subject to the agreement of personal terms and a medical," Chelsea said on Twitter.

"As part of the deal, Mateo Kovacic will join Chelsea on a season-long loan."

Courtois, 26, is poised to sign a six-year contract at Real, Spanish media reported.

Courtois played 154 times for Chelsea after arriving at Stamford Bridge in 2011, keeping 58 clean sheets. He spent three years on loan at Atletico Madrid from 2011-14.

British media reported that the Belgian, who has played 65 times for his country, has not shown up for training at Chelsea for the past two days in a bid to force through the transfer.

Chelsea have lined up Athletic Bilbao goalkeeper Kepa Arrizabalaga as a replacement, with the player activating his 80 million-euro release clause ahead of his move to London.