Real Madrid have completed the signing of Ricardo Kaka from AC Milan on a six-year contract.
The Spanish giants confirmed the eagerly-awaited capture of the 27-year-old Brazilian superstar in a brief statement on their official website late on Monday night.
Kaka, currently on international duty with Brazil in his homeland, had underwent a medical in Recife earlier, before putting pen to paper on a six-year deal.
The transfer fee is expected to be a new world record at around £56million, eclipsing the £48million Madrid paid Juventus for Zinedine Zidane in the summer of 2001.
"Ricardo Kaka is now a Real Madrid player after an agreement was reached with AC Milan," read the short note from Real Madrid.
"The Brazilian has passed all the tests of the medical examination. He has signed a contract with Real Madrid for the next six seasons."
Kaka is expected to be officially unveiled at the Santiago Bernabeu towards the end of this month, once he's finished FIFA Confederations Cup duty with his country in South Africa.
A statement on the Milan website meanwhile read: "From next season, Kaka will play at Real Madrid.
"AC Milan thanks the man and the great champion Kaka for his important contribution to the many victories achieved in the six years with the Rossoneri.
"The technical loss, while serious, can be overcome. It will be very difficult to fill the void that is left by Kaka - a shining example of seriousness, commitment and professionalism.
"AC Milan offer him the most cordial and affectionate wishes for the continuation of his sporting career."
Kaka is the first capture for the returning Real President Florentino Perez, who previously led the Spanish club from 2000 to 2006 - during the famous "Galacticos" era.
That resulted in the spending of large transfer fees to bring the likes of Ronaldo (£23.2m), David Beckham (£24.5m), Luis Figo (£37m) and Zidane to the club.
Kaka joined Milan from Sao Paolo in 2003 for just £5million and has since enjoyed great success at the San Siro, winning the Serie A title in 2004.
In 2007 alone Milan picked up the UEFA Champions League as well as the UEFA Super Cup and the FIFA Club World Cup, whilst he was voted the FIFA World Player of the Year and selected as the Ballon d'Or winner.
He has scored a total of 95 competitive goals in a Rossoneri jersey, with his 70th and last Serie A goal coming on the final day of last season against Fiorentina.
Although under contract at Milan until 2013, in January English Premier League outfit Manchester City made an audacious £100million bid for the Brazilian, offering a reported £500,000 a week in wages but Kaka opted to stay in Italy.
More recently he was linked with a move to Chelsea, following the arrival of former Milan boss Carlo Ancelotti to London.