There is already an agreement! According to David Ornstein of The Athletic, Real Madrid and Borussia Dortmund have reached an agreement for the transfer of Jude Bellingham. In negotiations facilitated by the good relations between both clubs, they have agreed that the operation would close at a cost of 100 million euros, plus variables related to certain objectives.
The player will undergo medical examinations in the next days, and the necessary paperwork will be signed soon, although the aforementioned media point out that it is really "a formality." Bellingham will sign a six-year contract and become a Real Madrid player very soon.