Real Madrid Signs Brazilian Superstar Kaká

Real took a bold first step on Monday to building a new generation of what it once called the galacticos by signing the Brazilian playmaker Kaká from A.C. Milan and signing him to a six-year contract.

The announcement, made Monday night on the club’s Web site, did not provide financial details, but the transfer fee has been widely reported to be around $92 million. That would make Kaká the most expensive player in the world, surpassing the previous record of $65 million, set when Real Madrid signed the French star Zinedine Zidane from Juventus in 2001 as part of the first wave of galacticos.

Even as the world financial system staggers through a recession, the signing could set the tone for a summer of astronomical spending in European soccer. And even after bringing Kaká to Madrid, Real could yet spend more. Florentino Perez, the newly elected team president who also ran the club during its original galacticos era from 2000 to 2006, has not been subtle in his courtship of the Portuguese winger Cristiano Ronaldo of Manchester United.

Kaká, 27, scored 16 goals in 36 appearances for Milan last season, a year in which the transfer gossip had him linked to clubs across Europe.

A.C. Milan signed him as a teenager from Sao Paulo in 2003 for 8.5 million euros ($11.5 million). In his time there, he won a Serie A title and the Champions League, as well as many individual honors, highlighted by the 2007 World Player of the Year award.

Kaká’s departure from A.C. Milan seemed likely in January when the English Premier League club Manchester City made a huge offer for him. Then, he said he was committed to Milan. But five months later, with Real Madrid interested, his departure became an almost foregone conclusion.

His destination seemed in question last week when Chelsea was reported to have placed a $90 million bid. Chelsea denied the offer the next day.

By Monday, Kaká was in Recife, Brazil, and the deal was done.