The Spanish sports newspaper Marca are reporting that Los Blancos have agreed a contract which will be announced before the start of the Liga season on August 23.

Ramos will take over from Iker Casillas as Madrid captain under new coach Rafael Benitez after the goalkeeper joined Porto.

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Ramos was apparently wanted by Manchester United and it looked like they might take advantage of unrest between the central defender and the club over a new contract that spilled over from the end of last season, but it now appears the stand-off and any sense of bad feeling has come to an end in the player's favour.

Benitez has been busy assuring Madrid fans that Ramos was going nowhere despite the United link. Madrid were accused of stalling over a new contract for Ramos after the player publicly backed Carlo Ancelotti before he was sacked at the end of last season.

Marca claims that Ramos met with president Florentino Perez and director José Ángel Sánchez during their pre-season tour of China with the club finally agreeing to the player's wage demands in recent days.

Ramos's previous contract had two years left to run, but the fresh terms are likely to see him end his playing career at the 10-times European champions.

He has apparently been handed a wage increase to around 9million Euros per season after tax.

Real Madrid's defender Sergio Ramos holds two ball after a training session on the eve of the International Champions Cup football match between Inter Milan and Real Madrid in Guagnzhou on July 26, 2015. Image credit: AFP

OUR VIEW

Was Sergio Ramos serious about leaving Real Madrid? There will be accusations levelled at Ramos that he used the threat of joining Manchester United to secure himself a better contract at Real Madrid. If that was the scenario, Ramos or his agent cannot be blamed. This is football, this is the way football in the modern era works. He has worked hard to earn himself a reputation as one of Europe's finest defenders, and it seems like Ramos can use his value to earn improved terms at a club like Madrid.

It is disappointing for United, but they probably only spotted an opportunity, and must now look elsewhere for a central defender. According to reports, Louis van Gaal is in no rush to bring in a new centre-half before the start of the league season with Chris Smalling and Phil Jones likely to be the preferred starting choice on the cusp of the new season. John Stones apparently also remains a possibility for United with Chelsea seeing their latest £26m bid rejected by Everton. Shame about Ramos, but we move on.

THE VIEW FROM SPAIN

Ivan Castello (Eurosport Spain): Sergio Ramos is a Real Madrid icon. Therefore it was only a matter of time before he signed a new contract. If Real were to allow him to leave, who would they get in as a replacement? There are no other defenders of his calibre available. Furthermore, it was imperative for Real Madrid president Florentino Perez that Ramos signed after Iker Casillas left. Ramos is a hero to the fans, so he had to stay.

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