After spending more than €300 million on five new players in this window already, Real Madrid's first departure has now officially been announced.
Click through the gallery above to see all of Real's signings so far in this window.
Midfielder Marcos Llorente will be the first player to depart the Santiago Bernabeu in this window, pending the completion of a medical for Atletico Madrid.
The 24-year-old will sign a five-year deal, the Rojiblancos confirmed on their official website on Thursday, with the transfer fee reported to be about €40 million (R644 million).
"Our club has reached an agreement with Real Madrid over the transfer of Marcos Llorente, pending medical tests," a statement on Atletico's official website read.
"The 24-year-old Spanish midfielder will sign on a five-year contract."
Llorente came through Real's youth ranks and spent 2016/17 on loan at Alaves. Overall, he made 39 first-team appearances for Los Blancos, but manager Zinedine Zidane did not see the player in his plans for the club's future.
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