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Beckham agrees five-year $250m LA Galaxy deal
David Beckham will leave Real Madrid at the end of the season and join side Los Angeles Galaxy on a £128million ($250 million) five-year deal - which works out at a mere half-a-million pounds a week.
The former England captain will leave Real in June and begin his new career in Major League Soccer in August.
Beckham said in a statement: 'This week, Real Madrid asked me to make a decision regarding my future and the offer to extend my contract by a further two seasons.
'After discussing several options with my family and advisers to either stay here at Madrid or join other major British and European clubs, I have decided to join the Los Angeles Galaxy and play in the MLS from August this year.
'I would like to thank the supporters and people of Madrid who have made my family and I feel so welcome in my time here, making this an extremely difficult decision to make.
'I have enjoyed my time in Spain enormously and I am extremely grateful to the club for giving me the opportunity to play for such a great team and their amazing fans.
'I am proud to have played for two of the biggest clubs in football and I look forward to the new challenge of growing the world's most popular game in a country that is as passionate about its sport as my own.
'For the rest of this season I will continue to give 100% to my coach, team mates and fans as I believe Fabio Capello will bring this club and its supporters the success they truly deserve.'
In terms of finances it is a mega deal and compares with the biggest in mainstream US sports American football and baseball.
The MLS have recently changed their salary cap rules to allow sides to make 'marquee signings' of top international stars. The Beckham deal will see the 31-year-old benefit directly from all his image rights and related sponsorship deals which in the past have had to be shared with his club.
The Real Madrid future of the world's most famous footballer had been shrouded in doubt, especially after coach Fabio Capello this week dropped him from the squad - the first time it had happened to Beckham since he moved from Manchester United in July 2003.
During those three and a half years, Beckham has seen six different coaches appointed while Real have failed to win a single trophy.
Capello's arrival at the start of the season could have heralded a new era for Beckham, who was dropped from new England boss Steve McClaren's squad in August, but instead he found himself often sidelined.
Real had been very keen to keep the midfielder - his marketing power remains a huge draw to fans across the globe - but after talks today he announced he will be moving to Los Angeles.
Real Madrid confirmed Beckham would be leaving in the summer in a statement today.
The statement read: 'Real Madrid have had a meeting with representatives of David Beckham this morning in the offices of the Santiago Bernabeu stadium.
'After this meeting both parties have decided that David will not extend his present contract with the club, which finishes on June 30, 2007.'
