The Spanish giants have put aside £50 million to prise Kaka away from Milan and will add Emerson to their bid if needed. AS says Milan coach Carlo Ancelotti personally phoned Emerson only last week to let the Brazilian know that he wants him at the San Siro next season.
Milan have tabled Emerson's agent, Gilmar Veloz, a three-year contract worth more than he is currently earning at Real.
Real chiefs are willing to offload Emerson this summer and are expected to inform Veloz tomorrow that they intend to include the midfielder in their bid for Kaka.
Meanwhile, it's also emerged that Real sports director Pedja Mijatovic has offered Julio Baptista to Milan. The Brazilian attacker spent last season on-loan at Arsenal.