According to reports in the Spanish and Italian media Chelsea, Manchester United and Manchester City target Kaka has agreed to join Real Madrid in a £56 million deal, smashing the World record previously set by Zinedine Zidane in 2001.

Kaka is currently on international duty with Brazil, but meetings yesterday between AC Milan vice-president Adriano Galliani and Kaka’s father and agent Bosco Leite, confirmed that the Serie A giants had excepted a bid from Florentino Perez’s new look Bernabeu outfit.

The Brazilian former World and European Player of the year is said to have agreed personal terms on a reputed £160,000 a week deal.

The deal is all but confirmed but for a public confirmation from the relevant parties. Kaka’s transfer to Real Madrid is set to be announced later today.

Carlo Ancelotti had placed the samba star at the top of his wish list having moved to the Premier League, however Real Madrid’s offer dwarfed that of Chelsea’s.

An insider at the West London based club told The Sun: “Mr Ancelotti tried very, very hard to get Kaka to begin the new era at the club.”

“But in the end Real Madrid had more money to spend. Now Chelsea are even more determined to get Pato.”

Should Chelsea wish to sign Milan’s highly rated 19 year old, they will need to bid £30 million for the player.