Milan CEO Adriano Galliani flew in a private jet to Madrid on Sunday morning and Sky Sport Italia later claimed the Spanish giants have agreed a two-year deal with the Rossoneri.
“An agreement between Milan and Real has been signed but we have yet to obtain the player’s agreement,” said Milan coach Massimiliano Allegri to Sky Sports Italia.
Last week Gazzetta dello Sport said Milan had offered Kaka 3m euros salary a year while the Brazilian had been hoping for 8m.
No firmer details were given in the report, although speculation suggests Real could release Kaka for free or allow him to go on a two-year loan.
Kaka last week made a public plea to be able to leave the Spanish giants as he looks towards cementing a place in the Brazilian national side ahead of next year’s World Cup.
Coach Massimiliano Allegri on Friday praised the Brazilian’s attributes and said he had “faith” a deal could be struck for Kaka.
“Kaka would strengthen us. He’s versatile, and his technical attributes would be a big plus to the team,” said Allegri.
“We still have two and a half days till the end of the transfer window and the club is working on it. I have faith.”
Milan’s push to bolster their squad before Monday’s transfer deadline comes days after they qualified for the group stages of the Champions League.
Reports on ANSA news agency late on Sunday said Milan striker Stephan El-Shaarawy could be included in any deal involving Kaka.
Italy international El-Shaarawy remained on the bench for Sunday’s 3-1 win against Cagliari.