The Racing Santander defender broke his silence over the £7 million deal yesterday, telling AS: "I am the happiest man in the world. To play for Madrid is a great satisfaction for any soccer player. To join such a great team is a dream turned into reality, which I have worked for every day.
"To be able to play at a stadium like the Bernabeu is wonderful."
Garay could be sent back to Racing on-loan for next season and the Argentine added: "If I remain a year with Racing I will do so happily and with pride to defend their colors in the UEFA Cup."
The youngster also revealed: "I was on the verge of going to Barcelona but in the end I preferred to sign with Real Madrid."