Real Madrid CF have reached an agreement with Santos FC to sign the Brazilian international forward Robinho.
The deal has been mooted ever since the player helped Brazil win the 2005 FIFA Confederations Cup, with Robinho refusing to train or play for Santos after they rejected an initial Madrid bid - saying they wanted his full buy-out clause worth more than €41m. However, a compromise has been reached, with the player waiving his 40 per cent share of that sell-on amount. He underwent a medical in Brazil on Thursday.
Madrid's director of communications Antonio García Ferreras said: "We will pay €24m, that is 60 per cent of the buy-out clause. The other 40 per cent should be paid to the player and his agent but they will forego their share."
Wagner Ribeiro, the 21-year-old's agent, added: "Robinho is just waiting for a transfer certificate to travel. He waived the 40 per cent to which he was entitled to be able to fulfil his dream of playing for Real Madrid."
Robinho himself had said: "Spain is an ideal country for Brazilian players and I know Real coach Vanderlei Luxemburgo very well. My mind is at Real Madrid." His new club's UEFA Champions League bid will begin in September's group stage.