The Mirror says Milan have admitted they are ready to sell the South American for that price to balance their books.

New San Siro president Adriano Galliani put Chelsea on red alert last night as he publicly revealed for the first time that Milan will let Kaka go if the right offer comes in.

Galliani said: "To get the books back in order it would be enough to sell Kaka for £55m."

And with Milan keen to land Didier Drogba, midfielder Kaka could now be in play for a player plus cash swap that would give Roman Abramovich the fantasy footballer he has craved.