Real Madrid signs Boca Juniors' Gago (22 Dec 2006 19:51 GMT)
Real Madrid confirmed the signing of Boca Juniors' Fernando Gago.
Gago, the 27th Argentine to play for Madrid, has agreed to a 6 1/2-year contract.
The club gave no details of the fee. On Wednesday, Boca said on its Web site that the Spanish club would pay $27 million (€20.45 million) for the 20-year-old midfielder.
Boca said Madrid "will pay €6.8 million ($9 million) in cash, €6.8 million ($9 million) in a year and the remaining €6.8 million ($9 million) in two years."
Negotiations began months ago when Madrid set its sights on the midfielder, considered the heir to countryman Fernando Redondo, who won the 1998 and 2000 Champions League with Madrid.
Boca wanted to keep Gago until June 2007, and wasn't willing to cede on its transfer fee demand. Boca president Mauricio Macri traveled to Spain earlier this week to hear Real Madrid's offer, but returned Wednesday without news to announce.
But Argentine media reported that the deadlock over Gago's transfer was ended late Wednesday after the midfielder renounced his 15 percent of the transfer fee.
Last Saturday, coach Fabio Capello said Madrid needed Gago, whose arrival will continue the club's attempt to inject some fresh blood into an aging team, which last won a major trophy in 2003.
source : Real Madrid sings Gago