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Kaka moves to Real Madrid for $100M

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  • NEW: Kaka signs deal with Real Madrid, Spanish club announces
  • Transfer from A.C. Milan worth a reported $100 million, according to media reports
  • Chief executive Galliani says that Milan must sell Kaka for economic reasons
  • Kaka currently in Brazil with the national team for World Cup qualifying double
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(CNN) -- Brazil playmaker Kaka confirmed his transfer from Italian side AC Milan to Spanish club Real Madrid, in a move worth a reported $100 million.

Kaka

Kaka announces to the world that he will play for Real Madrid next season.

"Ricardo Izecson dos Santos Leite, Kaka, now plays for Real Madrid following the deal reached with AC Milan," Real Madrid announced on its Web site.

"The Brazilian footballer satisfactorily passed a full medical checkup. Kaka has signed a contract linking him to Real Madrid for the next six seasons."

Spanish media reported the deal was worth in the region of $100 million (65 million euro). Due to fluctuations in exchange rates this figure eclipses the previous transfer record paid in dollars by Real for French star Zinedine Zidane in 2001, but not in euros.All the latest transfer gossip

"It will be very difficult to fill the void that Kaka will leave, as he is a shining example of commitment and professionalism," the Italian side said in a prepared statement.

"AC Milan, on behalf of the Rossoneri managers, players and supporters, send him the most cordial and affectionate wishes for the continuation of his sporting career." See the 20 most wanted footballers

The 2007 World Player of the Year completed the deal following a medical examination on Monday, at the request of the Spanish Primera Liga giants, his national federation said.

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The 27-year-old midfielder is currently on international duty ahead of Brazil's World Cup qualifier against Paraguay on Wednesday but was released for the medical tests in the north-eastern city of Recife.

International duty means the official unveiling of the player in the Spanish capital will more then likely not occur until the end of the month, after Kaka returns from helping Brazil defend the Confederations Cup in South Africa.

Kaka is set to become the first of the new wave of "galacticos" brought together under the leadership of returning club president Florentino Perez.

Milan president Silvio Berlusconi had told Kaka that he had to decide on his future on Monday.

The Serie A club's owner revealed on Italian television station Rai, he would meet with the Brazil playmaker at the start of next week to thrash out Kaka's future.

Milan chief executive Adriano Galliani said last week that the club had agreed to sell the 27-year-old Kaka for "solely economic" reasons.

"Milan can not go on losing $100 million a year," he told Italian newspaper Gazzetta dello Sport on Thursday

"Kaka has behaved very professionally with us, he has never asked for his deal to be revised or his contract extended. He has been here six years and won everything there is to win. But we can't afford to miss out on $100 million."

Galliani had said there was no chance of English club Chelsea -- who appointed former Milan coach Carlo Ancelotti as manager on Monday -- swooping in to beat Real for Kaka's signature.

An agreement with Chelsea could not exist," he told Gazzetta dello Sport. "Kaka goes to Real or he remains at Milan. That is his will and we are doing everything in complete agreement."

Kaka scored the final goal from the penalty spot as Brazil moved to the top of South American qualifying for the 2010 World Cup finals after thrashing Uruguay 4-0 in Montevideo, their first victory in the country for 33 years.

With Milan, Kaka won an array of awards including the Champions League, the UEFA Super Cup, the FIFA Club World Cup and the Seria A title.

He was a crucial part of Brazil's 2002 World Cup-winning squad he was also voted the FIFA World Player of the Year in 2007.

Last January, Kaka rejected a move to Premier League Manchester City who were prepared to pay him a reported $750,000 per week.

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