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The arch-rivals will face off July 29 at Miami's Hard Rock Stadium as part of the International Champions Cup, a tourney co-founded by Stephen Ross, owner of the NFL Miami Dolphins, reports Efe.

The formal announcement was made during a press conference on Friday that featured legends from both sides such as Hristo Stocihkov and Roberto Carlos.

"El Clasico Miami" will headline the 2017 International Champions Cup, an annual tournament in which leading European teams play preseason games against each other as well as Mexican, U.S. and Asian opponents.

Tickets will go on sale March 20 on the ICC website. "Believe it or not, in 1958 I was a cabana boy here at the Fontainebleau Hotel when I was going to high school down here, so standing here today to announce something that is really one of the great events in all of sport is very special".

The La Liga giants have only faced themselves once outside Spain in history - a match in 1982 in Venezuela, which Madrid won 1-0 thanks to a Vicente del Bosque goal.

So, how did Ross and his company convince Spain's soccer royalty to take their most prized jewel to Miami? The location makes ideal sense for a match like this.

Real Madrid vice president Emilio Butragueno added: "We are fully aware of how passionate people are about futbol here in Miami".