His contract at the Premier League club was due to expire next year but the Blues drove a hard bargain for the forward, who will reportedly cost Madrid an initial €100 million ($113 million), with another €45 million in potential add-ons.
More in the "Real world" gets only the team captain Sergio Ramos - 12 million euros per year.
Zinedine Zidane was re-handed the reins in March, nevertheless, and now president Florentino Perez is going on a summer spending spree - with deals for Eden Hazard (£130m), Jovic (£50m) and Militao (£45m) already wrapped up.
"For Real Madrid, they are getting a phenomenal footballer and for Eden, there couldn't have been too many new chapters in his career", Martinez said.
Less clear is where Hazard will fit into Zidane's starting line-up.
Unrest in Memphis after police shooting
In 2016, police shootings of black men prompted protesters to block the Interstate 40 bridge connecting Tennessee to Arkansas. Activists and relatives of Banks protested, claiming the shooting was unlawful and accusing police of an attempted cover up.
Kyrie Irving To Turn Down Player Option, Become Free Agent
Wechsler helped Irving navigate his way out of Cleveland and into a trade to the Celtics in 2017. According to Wojnarowski, Irving "remains intensely interested" in the Brooklyn Nets .
Foxconn can make all iPhones outside of China (if necessary)
However so far, Liu said, Apple has not given any instructions to Foxconn to move production out of China. Possible locations for the shift in Apple product manufacturing include India and the United States.
Hazard contributed to 31 goals in the league last season, scoring 21 in all competitions for Chelsea - his best ever tally at the club.
Hazard had one year remaining on his Chelsea contract but said it was his dream to play for Real, and Belgium boss Martinez believes the forward will be a ideal fit for the Spanish giants.
Madrid want to sell Bale to raise money for more signings, with French left-back Ferland Mendy the next player expected to arrive, from Lyon.
Chelsea have reportedly identified Valencia's Goncalo Guedes as Eden Hazard's long-term replacement and have offered £62m for the Portuguese worldwide.
Hazard, 28, is moving to Spain after helping Chelsea win the Europa League and finish third in the Premier League.
Chelsea had just won the Champions League when Hazard chose them over several other clubs but they have failed to replicate the success in the competition.