Ricardo Izecon dos Santos, better known as Kaka, is a Brazilian footballer who plays as an attacking midfielder, for Spanish La Liga club Real Madrid C. de F. Kaka joined Italian Serie A side AC Milan in 2003, for a fee of €8.5 million. The midfielder won the Ballon d’Or and the FIFA World Player of the Year awards in 2007, before joining Real Madrid for the enormous fee of £56 million, making him briefly the most expensive footballer in the world; the previous record was held by French midfielder Zinedine Zidane, who, incidentally, also transferred to Real Madrid, for the fee of £49 million. Reuters

English football heavyweight Arsenal is, reportedly, preparing a bid to sign Brazil and Real Madrid playmaker Kaka on loan, while Spaniard Juan Mata, previously linked with Arsenal, is on the verge of signing an agreement with Chelsea.

Kaka, over the summer, has been linked with a number of clubs. Chelsea, former club AC Milan and most recently Paris Saint-Germain have shown interest in the Brazil international.

Arsenal boss Arsene Wenger is preparing a deal for the 29-year-old after he was urged to make a big name signing during a meeting last week.

Kaka was previously told by Real Madrid that he is free to join a new club.

His transfer fee and high wages, an annual salary of around £9 million ($15 million), on top of a £30 million ($50 million) transfer fee, however, have thus far prevented clubs from tabling an offer to buy him on a permanent deal. But Real Madrid president Florentino Perez has agreed to sanction a loan deal provided the interested club agrees to pay all of the player’s wages.

The Brazilian is believed to earn around £170,000 ($280,669)-a-week at the Santiago Bernabeu which could be easily countered by Arsenal, following the Cesc Fabregas departure, Crunch Sports reported.

Ricardo Izecson dos Santos Leite, Kaka, joined Real Madrid in June 2009 from Italian club AC Milan and made his league debut in a 3–2 win against Deportivo La Coruna.

The Brazilian has scored 15 times in 39 games for Madrid.

Elsewhere, Valencia have reached an agreement with Chelsea for the sale of Juan Mata. The fee for the 23-year-old was not disclosed but it was said that the transfer was subject to the winger passing medical tests on Monday. Spanish reports suggested that Mata will cost Chelsea £26 million ($43 million).

Mata had previously drawn attention from Arsenal, Tottenham and Liverpool, according to The Guardian.