MILAN — AC Milan star Kaka's future remained unresolved Wednesday amid reports that he could be on his way to Real Madrid in a €65 million ($92 million) deal.

Milan vice president Adriano Galliani was in Madrid on Tuesday night to finalize the deal, along with Kaka's father-manager Bosco Leite, Italian sports dailies La Gazzetta dello Sport and Corriere dello Sport reported Wednesday.

After four hours of meetings with Madrid president Florentino Perez, a deal was reached under which Kaka would get €9.5 million ($13.5 million) a season for five years, Gazzetta said.

However, there has been no official confirmation from the clubs.

Milan said on its Web site that Galliani was only in Madrid because he had been previously invited to attend a dinner honoring Perez. Madrid said it had nothing to announce.

There were also reports in the British media that Chelsea was trying to "hijack" Kaka's move to Madrid with a late offer for the 2007 world player of the year. Kaka's coach at Milan, Carlo Ancelotti, was appointed Monday as Chelsea's new manager.

Kaka's Milan teammates seemed resigned to seeing the playmaker leave.

"I want to wait until it becomes official, but of course it greatly upsets me," Milan midfielder Gennaro Gattuso said from Italy's training camp. "Kaka is not just any old player. Someone who helps you win is leaving."

Gattuso said the current financial crisis may play a role in Milan's apparent decision to sell Kaka.

"When confronted with certain numbers, the club decided to put him on the market," Gattuso said, according to the ANSA news agency. "I'm on Milan's payroll and if the club has made that decision it's not up to me to intervene."

Kaka flew home on Monday to Brazil to join the national team for World Cup qualifiers and the Confederations Cup.

Before leaving, however, he insisted he was happy in Milan.

"I want to stay with Milan and from today this issue is over," Kaka said in Gazzetta on Tuesday. "I will say it for the last time, the last time. I don't want to leave Milan."

But Milan owner Premier Silvio Berlusconi conceded he didn't think he could keep the Brazilian midfielder.

"I don't think we can keep him back because they're offering so much money," he said Tuesday.

Kaka was also the subject of a failed record bid by Manchester City in January that would have made him the best-paid player in football, but he turned down the move saying he chose Milan over money.

New Madrid coach Manuel Pellegrini said this week he planned to bring in new players to revitalize the club which finished second in the league behind Barcelona.

Perez instituted the "galactico" policy of signing the game's biggest stars during his first tenure with the club, and has pledged a similar approach to the transfer market this offseason.