Club captain Nacho Fernandez will leave Real Madrid for a reported move to Saudi Arabia, the 15-time Champions League winners announced on Tuesday.

The 34-year-old centre-back spent 23 years with the club -- 12 of them in the first team squad -- lifting the European crown six times, La Liga on four occasions and the Copa del Rey twice.

According to Spanish media, Nacho has signed a two-year deal with Al-Qadsiah, who were recently promoted to the Saudi top-flight.

"Since he arrived at our youth academy as a child, Nacho has been an example to everyone and has earned the affection, recognition and admiration of everyone at Real Madrid," club president Florentino Perez said in a statement.

"Real Madrid is and always will be his home," he added.

Nacho is set to join fellow former Real Madrid stars Cristiano Ronaldo and Karim Benzema in the Saudi Pro League.