AC Milan president Silvio Berlusconi has great fears he will have to sell Kaka to Manchester City. City chief executive Garry Cook and deal broker Kia Joorabchian met Milan vice-president Adriano Galliani to make the world-record bid.

Milan would pocket £100m and Brazilian playmaker Kaka almost £75m for a five-year deal worth £15m a season - or £280,000 per week.

According to a top Milan source, the Italians' technical director Ariedo Braida was also at the meeting.

An informant at the negotiations told The Sun: "The Manchester delegation were determined to make their offer but it was rejected.

"But our owner Silvio Berlusconi is now concerned that the player himself may want this deal to happen."

Berlusconi said: "I hope Kaka stays."

But Galliano told the City delegation: "We would not consider selling Kaka for £100m - it would have to be an obscene amount more."

The Italian giants have never sold ANY of their superstars but admit they have been taken aback by the jaw-dropping bid.