Manchester United's David Beckham will join Real Madrid after the two clubs yesterday agreed a fee of around €35 million for the England captain.
Beckham is expected to earn around €6 million a year plus bonuses at the nine-times European champions. He will undergo a medical in Madrid on July 1st.
The midfielder, travelling to Japan today as part of a promotional tour of Asia for his sponsors, issued a statement through his agents SFX saying he was delighted to move to Spain.
"I recognise that this is an amazing opportunity for me at this stage in my career and a unique and exciting experience for my family," he said.
"I know that I will always regret it later in life if I had turned down the chance to play at another great club like Real Madrid.
"I will always hold precious memories of my time at Manchester United and Old Trafford as well as the players, who I regard as part of my family, and the brilliant fans."
Madrid sporting director Jorge Valdano said: "We are delighted with the arrival of David Beckham. It is a signing that will help us become more competitive."
Italian clubs Inter and AC Milan showed an initial interest in Beckham, but a week ago United announced they had agreed a conditional deal to sell him to Barcelona. Beckham's agents issued a statement saying he was "surprised and disappointed" at United's announcement and within days Barcelona's greatest rivals, Real, emerged as favourites for his signature.