Beckham signs for Real Madrid

The offer is believed to be in the region of £25million, with £7million being paid upfront. The rest of the fee will be paid in instalments over the next four seasons. The amount of money involved in the transfer could change depending on Real's success in the Champions League.

The deal is expected to officially go through in early July, conditional upon approval by the boards of Manchester United and Real Madrid.

Beckham is expected to undergo a medical in Spain in the coming week.

Following confirmation of one of longest transfer sagas in history, United chief executive Peter Kenyon made the following statement: "While we are sad to see David go after so many great years at Old Trafford, we believe this is a good deal for the club, and we now look forward to building on the success of last season’s championship title. We wish David all the best in his new career in Spain and thank him for his fantastic contribution to the team’s achievements in the last decade. We have worked closely with David’s advisors throughout the past few weeks and thank them for their co-operation."

United boss Sir Alex Ferguson also commented on the transfer, saying: "I’ve known David since he was 11 years of age, and it’s been a pleasure to see him grow and develop into the player he has become. David has been an integral part of all the successes that Manchester United have achieved in the last decade. I would like to wish him and his family every success in the future, and thank him for his service to the club."

The rift between Sir Alex Ferguson and Beckham is believed to be the main reason behind the transfer, with the dressing room incident where Fergie 'accidentally' kicked a boot at the head of Becks fuelling rumours, with AC Milan, Inter Milan and Barcelona rumoured to be Real's main rivals for the players signature.

Barcelona had previously looked the most likely move for the England skipper. United accepted a bit from Barcelona president Joan Laporta, but Becks refused to negotiate personal terms with the Catalan club who are currently getting ready for their Intertoto Cup campaign after a dismal domestic campaign last season.

The bid was accepted before the Presidential Elections took place at Barcelona, and United were criticised for accepting the bid from a man who wasn't yet officially in a position to sign Beckham.

Laporta was elected with a majority vote earlier in the week, and is now under pressure to sign another big name player following the failure to bring Beckham to the Nou Camp. United target Ronaldinho is believed to be top of Laporta's wanted list.

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