Spanish and European giants Real Madrid have completed the signing of Dutch international playmaker Rafael van der Vaart from SV Hamburg, according to latest reports emanating from Spain.

Madrid based Spanish sports daily Marca reports that Real's bid for the former Ajax Amsterdam youngster has been accepted by SV Hamburg. Van der Vaart shall now pen a five-year contract for a transfer fee of 8 million pounds.

Last week Real Madrid had made an offer of 5 million pounds but the German Bundesliga had rejected the bid. But Real president Ramon Calderon was intense and persistence in his chase of the Dutch star and then made an improved offer of 8 million pounds.

Hamburg shall announce the departure of their playmaker next week while in the meantime the player shall undergo the necessary paper work and the medical.