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Real Madrid sign Robinho for $30 million
(Agencies)
Updated: 2005-07-22 10:40

Real Madrid have agreed to sign Santos striker Robinho for $30 million, the Spanish club said on their website on Thursday.

Brazilian striker Robinho plays the ball during a practice session in Frankfurt, Germany, in this June 28, 2005 file photo. Real Madrid have reached a deal to sign Robinho, one of Brazil's most exciting players, from Santos, the player's agent said on Thursday. Picture taken June 28, 2005. [Reuters]

The nine-times European champions said they paid 60 percent of the $50 million buy-out clause stipulated in the player's contract in order to buy Santos's share of his rights.

His agent Wagner Ribeiro said Robinho had agreed to forego the 40 percent to which he was entitled, which accounts for the shortfall of $20 million.

Meanwhile, Santos said they did not know about the development.

"It's settled," Ribeiro told Reuters.

"Robinho is just waiting for a transfer certificate to travel. He waived the 40 percent to which he was entitled to be able to fulfill his dream of playing for Real Madrid."

Real have been chasing the 21-year-old forward since last year but had met with stiff resistance from Santos, who wanted to hold on to the youngster who had played such an instrumental role in their recent success.

Santos president Marcelo Teixeira, who has accused Real of approaching the player without his club's permission, said the Brazilian side had yet to receive the money.

"No deposit has been made," he told Brazilian television before refusing to answer any more questions.

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