Henrotay said: "I have been reading everywhere that Chelsea are saying it is up to Thibaut, but he has made it clear to the club that the best option for him is to move to Madrid.
"For him this is a big decision because he wants to be near his family, and there is an offer in place for Chelsea to accept."
He added: "We have seen suggestions that it is about money, and it is true he could get an increase with a move.
"But he has turned down a better offer elsewhere because this is more than a financial decision.
"Throughout this it has important for everyone to be reasonable, and the buying club has come up with a reasonable offer for a player who has one year left on his contract when they know they could sign him without a fee in 12 months.