Kaka believes Madrid is in a great position to compete after finishing runner-up last year. "Madrid has everything in terms of a fascinating team. And it's always been a reference for great players," Kaka said. "The project is very good. I can't wait to play." Kaka agreed to a six-year contract with Madrid and will team up with Cristiano Ronaldo, the world player of the year who Madrid acquired for a transfer record 80 million pounds (euro94 million; USD 131 million). "We're compatible players and I think we'll be able to play alongside without a problem," said Kaka, who had just helped his country to victory at the Confederations Cup in South Africa, where he was named the tournament's best player.

Kaka, whose full name is Ricardo Izecson Dos Santos, won a Champions League, Serie A, Club World Cup and two European Supercups in his six seasons at Milan, which he joined from Sao Paulo in 2003. Kaka was also a member of Brazil's World Cup-winning team in 2002. Perez has splashed out euro237 million (USD 333 million) this summer - including on Valencia defender Raul Albiol – in a bid to turn the page on a season that was marred by former president Ramon Calderon's resignation over a vote-rigging scandal.

Even Perez was given an ovation when he took the stage, with chants of "Florentino" ringing out for the first time since his initial reign from 2000-06.

"We believe that this club can become the best club in the world, again," Perez said. "He is a unique player ... and Kaka is with us."