Real Madrid have told Chelsea that their Brazilian playmaker Kaka is available for a figure of £22m, according to the Daily Star.
The Spanish club are ready to sell the midfielder after Madrid boss Jose Mourinho admitted that the player is no longer part of his plans.
Kaka cost £55m from AC Milan in 2009 but has never settled through an injury-ravaged spell, and a source close to the club admitted that a deal is possible.
"Kaka has always interested other clubs and Mourinho has decided that he has far better options in midfield so the best thing to do is to move him on," the source explained.
"There has been no concrete offer but it is now known that the club would accept an offer in the region of £22m."
Kaka, 29, was named the FIFA World Player of the Year in 2007.