Toni Kroos will be Real Madrid's first signing for the 2014-2015 season. According to Marca, the deal between Bayern and Real Madrid is almost done and los blancos will pay around 30M€ to complete the transfer. Kroos will sign a five-year contract with 5M€ per year -he wanted to get more money with Bayern Munich, so that's a bit surprising and his contract will probably have some kind of bonus-.
According to this Marca report, the deal between Kroos and Real Madrid has already been agreed, but not the one involving Bayern and los blancos. Still, with Kroos wanting to leave and his contract with Bayern expiring on 2015, Bayern are forced to sell the player this summer. This move will likely trigger some others, and Real Madrid could try to sell a midfielder to make room for Kroos. Sami Khedira still has to agree to a contract extension before 2015 while Ángel Di María has said many times that he doesn't know if he will stay with Real Madrid.