Perez commits to £250M Real Madrid spending spree

Real Madrid presidential candidate Florentino Perez has held a round of talks with AC Milan coach Carlo Ancelotti.

Tuttosport says Perez met with Ancelotti in Geneva last week and offered the Italian a three-year contract worth £4 million-a-season - plus bonuses.

A source says Ancelotti verbally accepted the offer and also discussed player signings with Perez - including Milan's Kaka, Cristiano Ronaldo (Manchester United), Steven Gerrard, Xabi Alonso (both Liverpool) and Karim Benzema (Lyon).

It's mooted Perez is willing to commit £250 MILLION to summer signings.