End of an era: Real Madrid, Porto reach agreement for transfer of Iker Casillas

Adios, Iker Casillas.

Real Madrid announced Saturday that they reached an agreement with FC Porto for the transfer of Casillas to the Portuguese club, officially ending his 25-year spell between the posts at the Santiago Bernabeu.

For Real Madrid today is a day, above all, of thanks and recognition. One of the best goalkeepers in this club is not just leaving, today the greatest goalkeeper in the history of the club and in the history of Spanish football is moving on to a new stage in his footballing career.

This goodbye evokes thousands of sensations and memories charged with hope, anticipation, sacrifice, strength and unique triumph. Iker Casillas has made our coat of arms even greater. He has been our captain and has forged his legend here since he arrived as a child at just nine years of age.

Our club is 113 years old and Casillas has worn our jersey for 25 of those years. During that time he has become one of our finest leaders and has won the respect, affection, admiration and love of the fans beyond colours and afiliations.

Casillas will appear before the media on Sunday, likely to bid an official farewell to the only club he's ever known.

Spanish daily Marca is reporting that the deal was temporarily deadlocked until Real Madrid agreed to foot the tax related to Casillas' payoff. The club and the 'keeper's lawyers apparently took more than 48 hours to iron out the details and there were "moments of tension along the way."

The rough edges to be smoothed out almost led to a breakdown in negotiations on Thursday. A deal that had looked to be done and dusted suddenly stalled because of the more stringent Portuguese fiscal system, which means that Casillas will pay 56% tax compared to 43.5% in Spain, and the goalkeeper's push for a gross payoff covering the remainder of his contract.

Real Madrid were taken aback both by these demands and by the mistrustful attitude displayed by Iker's representatives and lawyers, who were seemingly wary that the club was trying to rip the player off. The club's legal staff, on the other hand, felt that they were negotiating with amateurs. The deadlock was finally surpassed late on Friday night.

The upshot is that 'Los Blancos' are going to make up the shortfall between the net amount Casillas would have earned had he seen out the two years left on his contract - a figure that falls short of €14 million - and his salary at Porto. However, it is worth noting that since the keeper will not be able to make use of the special 20% tax regime for non-habitual residents in Portugal, because sportsmen are not eligible, Iker will still end up pocketing less

With the reported hitch having been overcome, Marca also alleges that the agreement between Real Madrid and Porto will see Casillas put pen to paper on a two-year contract with the latter. A third year will apparently be triggered if he makes more than 30 competitive appearances for Porto.

Any debate over where he stands among Real Madrid's greats can effectively be ended by glancing at his collection of silverware: three Champions League titles, five La Liga trophies, one taste of glory at the Club World Cup, another at the Intercontinental Cup, two Copa del Rey crowns, and four Supercopa de Espana honours.

(Courtesy: AS)

Imagining the Spanish 'keeper anywhere but at Real Madrid is difficult. After all, when a player spends a quarter-century with the same team, he becomes more than a poster boy. He becomes an icon.

Against this backdrop, however, Casillas will put on his gloves at Porto and write the epilogue of his story at Real Madrid.