Earlier this month, a number of reports claimed that the promising goalkeeper underwent a medical in Madrid ahead of completing his transfer to the Santiago Bernabeu.
The Spaniard has been at Athletic since the age of 10 but his future at the club has come under question in recent times as his previous contract at San Mames was set to expire at the end of the current season.
With the Bilbao star now seemingly out of the running, it would appear that Real president Florentino Perez will once again switch his focus to De Gea as he looks for a long-term replacement for Keylor Navas.
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But Real seemingly dithered, leading to speculation over the weekend that the player had grown exhausted of waiting for the reigning European champions to make their move and would re-commit himself to his current club instead.
The 23-year-old has rose to stardom in La Liga after some stunning performances for both Athletic and for the Spanish national side at U21 level and for the senior side, making one cap. Athletic has reportedly extended Kepa's contract, and now it will run until June 2025.
Bilbao newspaper El Correo reported that Kepa had grown exhausted of waiting for Real to make a move and chose to accept Athletic's new deal. "His release clause will be €80m", the club announced through an official statement.