According to the newspaper that first revealed Real's interest in Michael Owen, Marca claims a deal has been reached for the 24-year-old Newcastle defender, who will join Owen and David Beckham at the Bernabeu for around £15m.
However, due to the foresight of the previous Leeds board, we would not stand to make any money from the deal, as BBC Sport confirm Leeds did not negotiate a sell-on clause when they sold Woodgate.
Woodgate has not played since rupturing a thigh muscle in April and recently visited a German specialist in a bid to discover why it has taken so long for the injury to clear.
The defender has just clocked 28 league games for The Magpies since his £9m move from Leeds in January 2003 and just played 18 times in the Premiership last season.