​Real Madrid have reportedly reached a verbal agreement with Porto to sign Felipe Monteiro as outgoing defender Pepe's replacement.

​AS has said it believes Los Blancos have held discussions with the 27-year-old's representatives over a summer move for Monteiro, and that a transfer to the Bernabeu should be sealed if Porto accept whatever fee Real offer them.

Pepe has failed to agree terms on a new contract with the La Liga giants, and his increasingly inevitable departure has led his current employers to search for the right player to replace the Portuguese international in the event he ends his decade-long career in Spain's capital.

AS Roma v FC Porto - UEFA Champions League Qualifying Play-Offs Round: Second Leg

The 34-year-old had been linked with a move to the Chinese Super League, but expressed his desire to stay with Real and continue his adventure with them. However, the Champions League holders are not prepared to bow to Pepe's demands for a two-year contract extension, and it now looks likely that he will leave in the summer.

Felipe's Porto contract contains a release clause fee of around £43m - money that Real wouldn't have a problem paying - and, despite Porto's reluctance to part with one of their key first-team members, the club's £87m debts could force them to part with Monteiro after just one season.

Real may hope that a smaller bid could even be enough to force Porto to sell, with reports of around £25m being the opening offer necessary to bring Dragoes to the negotiating table.

Felipe joined Porto from Brazilian side Corinthians last July for a figure of around £5.5m. 

The centre back has since gone on to appear for his new club 37 times this term, and his performances for the second-placed Primeira Liga team has led to him receiving his first senior international call-up to the Brazilian national side for upcoming 2018 World Cup qualifiers against Uruguay and Paraguay.

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