The Dutchman had been linked with a move to the Santiago Bernabeu and was expected to join Los Blancos this summer, but the financial ramifications of the pandemic saw the deal fall through.
Van de Beek signed a five-year contract, with an option to extend for a further year for around £107,000-a-week before bonuses with Manchester United instead.
Van de Beek’s agent Sjaak Swart told Marca: ‘There were many clubs interested in Van de Beek.
‘There was Madrid, Barca, Juve, Arsenal…in March everything was ready for him to go to Real Madrid, but with the pandemic everything was postponed. The clubs have no income. The whole scene changed.’
After completing his move, Van de Beek said: ‘I cannot begin to explain how incredible an opportunity it is to join a club with such an amazing history.