Ballon d'Or winner Karim Benzema will leave Real Madrid as a free agent in the close season after 14 trophy-laden years, the club said on Sunday.

In Real's statement, they said: "Real Madrid C.F. and our captain Karim Benzema have agreed to put an end to his brilliant and unforgettable stage as a player for our club. Real Madrid wants to show its gratitude and all its affection for who is already one of our greatest legends."

They added: "Karim Benzema's career at Real Madrid has been an example of behaviour and professionalism, and has represented the values of our club. Karim Benzema has earned the right to decide his future."

"Madridistas and all the fans around the world have enjoyed his magical and unique football, which has made him one of the great myths of our club and one of the great legends of world football."

He has been the subject of a huge offer from Saudi Arabia, and may well head to the country to join the same league Cristiano Ronaldo is currently playing in.

It was reported earlier this week that Benzema plans to move to Al-Ittihad after they offered him €400m (£346m/$439m) over two years, although he had been tipped to delay the move and remain at the Bernabeu.

Nevertheless, hints were there, with Benzema planning a press conference to say goodbye to the club's fans.

Real have now confirmed they will put on a farewell ceremony on Tuesday, with president Florentino Perez set to be present.

Benzema joined the club in 2009 and is the club's second-highest goalscorer ever, and has won a variety of trophies; he has lifted La Liga four times, and the Champions League on five occasions, while he also won the Ballon d'Or in 2022.