Kaka, who broke into the Milan side under former boss Ancelotti, insists he is staying in Italy, telling Gazzetta dello Sport: "I say it for the last time. I don't want to leave Milan."

THE TIMES
Chelsea blew the summer transfer window wide open last night with a last-ditch attempt to lure Kaka away from a move to Real Madrid.

An official announcement was then expected imminently, but this confirmation has reportedly been delayed after Chelsea lodged a last-gasp bid to try and sign Kaka themselves.

reports from Spain yesterday claimed that a deal had been agreed between the clubs during talks in the Spanish capital, with a fee of £56 million quoted.

However, in a statement released on the club's official website, Milan insisted Galliani had only travelled to Madrid to attend a dinner for Perez.

Chelsea have also been linked with the Brazilian playmaker, though the London club insisted reports of a £73.5m offer for Kaka were "totally untrue".

"We've never made an offer to AC Milan for Kaka," said a Chelsea statement.

"As a consequence we have not discussed a salary with the player either. Any reports to the contrary are totally untrue," added the Blues statement.

It had been claimed that Kaka's father and agent Bosco Leite had already sealed the deal in Madrid, with Italian Prime Minister Berlusconi admitting the player may move because "they have offered him so much money".

Real Madrid have completed the signing of Brazilian playmaker Kaka from AC Milan on a six-year deal.

The fee is reported to be about £56m, which would be a new world record in pounds sterling, surpassing the £45.6m Real paid for Zinedine Zidane in 2001.

Kaka, 27, revealed he has joined the Spanish club to help the Italians overcome their financial difficulties.

"I wanted to stay but the world crisis affected my decision," he said. "I knew I'd only leave Milan to play for Real."

The attacking midfielder, speaking after having a medical in Recife, where Brazil face Paraguay in a World Cup qualifier on Wednesday, added: "I spoke with the Milan directors and we reached the conclusion that the best thing for everybody would be to sell."

And he revealed that the deal had been in the pipeline for some time.