The money Real receive for Varane will go towards their pursuit of either Paris Saint-Germain superstar Kylian Mbappe or Borussia Dortmund frontman Erling Haaland.
Speaking in April, Varane claimed he had a “clear” mind over where his future lied.
He said: “My future is clear. I am focused on the end of this season. We are in a very intense and key moment.
“It is normal that my focus is on the end of the season. The message to the fans is that I am 100 per cent committed to the team.
“We have challenges that encourage us a lot. I am focused on giving everything on the field.”