The Spanish champions will pay €60 million to acquire the services of the 2007 FIFA World Player of the Year should the deal go through.

According to sports daily Marca, Real would-be chairman Perez made the astronomical bid during a meeting with Milan vice-president Adriano Galliani on March 16th.

Other prestigious suitors are expected to be in the hunt for Kaka, who had pledged his future to the Rossoneri on more than one occasion.

Manchester City made a hefty bid of €108 million for the flamboyant playmaker in the past January transfer window, but the latter turned it down although his club accepted it.

However, the Premiership big-spenders are expected to make a new offer in the summer to run the rule over the 26-year-old.

English powerhouse Chelsea are also believed to be interested in signing Kaka, whose contract with Milan runs out in 2013.