Real Madrid are ready to spend over €100 million to sign Borussia Dortmund midfielder Jude Bellingham and are confident they will be able to speed up transfer talks in January, sources told ESPN.

The LaLiga giants view the England international, 19, as a priority signing for next season but are aware of competition from Manchester City, Manchester United, Chelsea and, above all, Liverpool.

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In November, sources told ESPN that while Liverpool were leading the race to land Bellingham, Madrid believed they were still well-positioned to win the battle for the teenager's signing.

Since then, Bellingham's outstanding performances for England at the World Cup have increased his value even further -- but sources have told ESPN that Madrid are unwilling to make what they would view as a "crazy" offer to sign him.

Madrid would view a €100m fee as a sensible figure and hope that the good relationship between club president Florentino Perez and Dortmund CEO Hans-Joachim Watzke could help clinch the deal.

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Conversations between Madrid executives and the player's entourage have also remained positive, sources said, and the club are confident that the long-term work they have put in to convince both Dortmund and the player will eventually bear fruit.

Madrid beat Liverpool to the signing of Aurelien Tchouameni last summer and hope to do the same with Bellingham, who they see as the ideal midfield addition to play alongside the France international, Eduardo Camavinga and Federico Valverde.

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According to sources who spoke to ESPN, Real Madrid is prepared to spend more than €100 million to acquire Borussia Dortmund midfielder Jude Bellingham and is convinced that negotiations may move quickly in January.

Although they are aware of competition from Manchester City, Manchester United, Chelsea, and, most importantly, Liverpool, the LaLiga heavyweights view the 19-year-old England international as a priority signing for the upcoming season.

In November, sources told ESPN that while Bellingham was being pursued by Liverpool, Madrid thought they were still in a strong position to secure the signing of the young player.

Bellingham's fantastic World Cup performances for England since then have enhanced his value even more, but insiders have told ESPN that Madrid is unlikely to pay his increased value.

The club president of Madrid, Florentino Perez, and the CEO of Dortmund, Hans-Joachim Watzke, have a cordial working relationship, which Madrid would consider a reasonable price of €100 million.

The club is convinced that their long-term efforts to persuade both Dortmund and the player will finally pay off because conversations between Madrid management and the player's entourage have reportedly stayed constructive.

Bellingham is the ideal midfield acquisition in Madrid's eyes to play with the France international, Eduardo Camavinga, and Federico Valverde. Madrid beat Liverpool to the signing of Aurelien Tchouameni last summer and hopes to do the same with Bellingham.