FC Barcelona and AC Milan have agreed on a fee to take Brazilian star Ronaldinho from the Camp Nou stadium to Italy.
Ronaldinho, 28, was given permission to travel to Milan Wednesday to take a club medical with AC Milan and end what had become one of the long-running transfer stories of the summer.
The FC Barcelona website confirmed that the clubs had agreed a fee that will initially be 21 million euros with a possible 4 million euros extra to be paid depending on Milan's performances in the Champions League during the next few years.
Barcelona also announced that to help the deal go through, Ronaldinho had renounced the 15 percent bonus due to him from the transfer fee.
The decision means an end to the tug of war between AC Milan and Manchester City to sign the Brazilian. Manchester City offered Barcelona more money that Milan and were also willing to pay Ronaldinho an astonishing 240,000 euros per week.
That would have made him the highest paid player in England, but in the end the forward preferred the lifestyle in Milan and also valued AC Milan's higher options of playing regularly in the Champions League.
"Ronnie's wish to play for Milan made it impossible for him to go to Manchester City," explained Barca's Director of Sport - Txiki Bergiristain in El Mundo Deportivo, while club President Joan Laporta said the player was leaving "with every honor."
The move will also open the door for Ronaldinho to take part in the Olympic Games as he had previously stated that would be a key factor in his negotiations with any new club.