on Wednesday night announced their fifth signing of the summer after completing a deal for Lyon left-back Ferland Mendy.
The 24-year-old has signed a six-year contract and joins Eder Militao, Eden Hazard
, Rodrygo and Luka Jovic in moving to Zinedine Zidane
's side since the end of the season.
He will be presented as a Real Madrid player at the Bernabeu on June 19.
His arrival takes the summer spending to a staggering £344million already, with Mendy joining for £49m.
The signings of teenager Rodrygo from Santos for £40m and Porto centre-back Eder Militao, for £43m, were announced last June and this March respectively – however the purchases were officially completed only this summer.
Since the end of the season they have completed the protracted £150m purchase of Eden Hazard, while £62m Serbian star Luka Jovic was presented at the Bernabeu on Wednesday following his arrival from Frankfurt.
Earlier this week, Didier Deschamps seemingly confirmed that Mendy would be moving to Madrid in this summer window.
Real Madrid signings
Rodrygo (Santos, £40m)
Eder Militao (Porto, £43m)
Luka Jovic (Frankfurt, £62m)
Eden Hazard (Chelsea, £150m)
Ferland Mendy (Lyon, £49m)
'Two years ago, he was in the second division and now he will play at Real Madrid,' he said ahead of France's 4-0 Euro 2020 qualifying win against Andorra.
'He can play on either side and his development is stunning.'
Mendy spent just two seasons at Lyon after joining from Le Havre in 2017. He made 79 appearances for Lyon, scoring three times.
He earned his first senior call-up for the French team in November 2018, making his debut against Uruguay.
He was in Deschamps' squad for this month's fixtures with Turkey and Andorra.
Real are looking to rebuild after a disappointing campaign, which saw them finish without a trophy and go through three managers.
Jovic was unveiled as the most expensive centre-forward in the history of Real Madrid
on Wednesday, but he was presented to only 5,000 fans at the Bernabeu.
Hazard will be presented in front of the fans on Thursday as Real move quickly to put the season just gone behind them.
President Florentino Perez said on Wednesday: 'The start of an exciting new project for next season.'
He added: 'This has not been the year we had hoped for and we are going to react with strength.'
Jovic added: 'I'm the happiest guy in the world, I'm going to give everything.
'I'm excited and I'm sure I've made the best decision, I'll work hard to win titles with Real Madrid.'