MADRID (AFP) - Real Madrid have reached agreement with Portuguese side FC Porto for the transfer of goalkeeper and captain Iker Casillas, the Spanish club announced on Saturday.

Casillas joined Real's youth academy in 1990 and has won 19 trophies during his 16 seasons as a professional.

"Real Madrid and FC Porto have agreed the transfer of Iker Casillas to the Portuguese club," Real Madrid said in a statement.

The 34-year-old Casillas had two years left on his contract with Real Madrid.

Porto, coached by former Real Madrid and Spain goalkeeper Julen Lopetegui, will compete in next season's Champions League after finishing runners-up to Benfica in the 2014-15 Portuguese season.

Lopetugui already has six Spaniards in his squad and both his assistant coaches are Spanish.

A World Cup winner and two-time European champion with Spain, Casillas has clinched five Spanish titles, three Champions League trophies and two King's Cup crowns since making his first-team debut with Real Madrid in 1999.