Manchester City have lost out to Italian side AC Milan in the race to sign Barcelona playmaker Ronaldinho.
"AC Milan and Barcelona have reached an agreement in principle over the transfer of Ronaldinho," the Serie A club said on their website.
"The player will be in Milan on Wednesday to undergo a medical and sign a contract that will keep him at Milan until 30 June 2011."
City had reportedly bid £25.5m for the 28-year-old Brazilian.
But Italian newspaper Gazzetta dello Sport reported on its website that Milan will pay Spanish side Barcelona just £14.6m for his services, with the figure likely to be increased by performance-related bonuses.
Milan chief executive Adriano Galliani has been in Barcelona for talks with the club and the player for two days.
The two-time Fifa World Player of the Year's time at Barcelona effectively came to an end in June when new manager Pep Guardiola announced the playmaker was surplus to requirements.
Nevertheless, the Catalans were not prepared to release Ronaldinho to join Dunga's Brazil squad for next month's Beijing Olympics.
Ronaldinho helped Barcelona win back-to-back Spanish league titles (2004-05, 2005-06) and the Champions League in 2006, but failed to cement a regular place in the starting XI last season because of injury and fitness issues.
Shem1 said
20:44 07/15 2008
AC Milan and Barcelona have reached an agreement in principle over the transfer of Ronaldinho to the Italian club. The Brazilian will take a medical examination on Wednesday in Milan.
Laporta, AC Milan vice president, Adriano Galliani, and the players agent, Roberto de Assis, left the club offices to announce an agreement in principle for the transfer of Ronaldinho to the Serie A club.
The 28 year old player has the clubs permission to travel to Milan on Wednesday to take the corresponding medical tests.
21 million plus 4 million in bonuses
The principle of agreement finally established a transfer fee of 21 million euros, plus 4 million more in the form of performance-related bonuses depending on AC Milans qualification, in future years, for the Champions League.
Ronaldinho, one of the best player in the world, will compete with the Brazilian team for the Olympics next month. His yearly salary is estimated to be at 6.5 million a year
In order to sign to Milan, the player renounced his right to 15% of the fee..too bad!
Ronaldinho to sign for AC Milan
Manchester City have lost out to Italian side AC Milan in the race to sign Barcelona playmaker Ronaldinho.
"AC Milan and Barcelona have reached an agreement in principle over the transfer of Ronaldinho," the Serie A club said on their website.
"The player will be in Milan on Wednesday to undergo a medical and sign a contract that will keep him at Milan until 30 June 2011."
City had reportedly bid £25.5m for the 28-year-old Brazilian.
But Italian newspaper Gazzetta dello Sport reported on its website that Milan will pay Spanish side Barcelona just £14.6m for his services, with the figure likely to be increased by performance-related bonuses.
Milan chief executive Adriano Galliani has been in Barcelona for talks with the club and the player for two days.
The two-time Fifa World Player of the Year's time at Barcelona effectively came to an end in June when new manager Pep Guardiola announced the playmaker was surplus to requirements.
Nevertheless, the Catalans were not prepared to release Ronaldinho to join Dunga's Brazil squad for next month's Beijing Olympics.
Ronaldinho helped Barcelona win back-to-back Spanish league titles (2004-05, 2005-06) and the Champions League in 2006, but failed to cement a regular place in the starting XI last season because of injury and fitness issues.AC Milan and Barcelona have reached an agreement in principle over the transfer of Ronaldinho to the Italian club. The Brazilian will take a medical examination on Wednesday in Milan.
Laporta, AC Milan vice president, Adriano Galliani, and the players agent, Roberto de Assis, left the club offices to announce an agreement in principle for the transfer of Ronaldinho to the Serie A club.
The 28 year old player has the clubs permission to travel to Milan on Wednesday to take the corresponding medical tests.
21 million plus 4 million in bonuses
The principle of agreement finally established a transfer fee of 21 million euros, plus 4 million more in the form of performance-related bonuses depending on AC Milans qualification, in future years, for the Champions League.
Ronaldinho, one of the best player in the world, will compete with the Brazilian team for the Olympics next month. His yearly salary is estimated to be at 6.5 million a year
In order to sign to Milan, the player renounced his right to 15% of the fee..too bad!