Chelsea and Manchester City are on alert after it emerged that Real Madrid are ready to sell Kaka this summer
Chelsea have been linked with the Brazil playmaker for some time and are widely believed to be preparing to make a £25million bid at the end of the season.
According to Caughtoffside.com, Real Madrid are prepared to offload the 29-year-old at the end of the campaign, with manager Jose Mourinho reportedly ready to listen to offers for the attacking midfielder.
Reports earlier this month suggested the Blues could offer Didier Drogba as part of a part-exchange deal for Kaka, although manager Carlo Ancelotti last week dismissed the reports, with the Italian telling La Repubblica: "Will I ask (owner, Roman) Abramovich for Kaka, Pato or Pirlo? We have already taken Ramires, Torres and David Luiz.
"The exchange of Kaka for Drogba is fantasy football."
But despite Ancelotti's comments, Chelsea owner Roman Abramovich is keen on the Brazilian and is believed to be preparing to make a move to sign him when the transfer window reopens.
Ancelotti is a huge admirer of Kaka, having worked with him at AC Milan prior to his £56m move to Real in June 2009. But whether he will still be in charge at Stamford Bridge next season remains to be seen and given his recent comments, it would appear that should Kaka move to west London, it would be an Abramovich signing rather than an Ancelotti one.
With Chelsea's Russian owner also preparing to offload Didier Drogba at the end of the current campaign, a part-exchange deal could still be on the cards as the Ivory Coast international has again this week been linked with a move to Madrid.
Manchester City were close to signing Kaka two years ago, but a move from AC Milan fell through and he instead moved to Spain.
Despite having several attacking options, City boss Roberto Mancini would almost certainly be interested in bringing Kaka to Eastlands, which will likely lead to renewed speculation about the future of Carlos Tevez - who has been again linked with a move away from Manchester this summer - as well as the future of Mario Balotelli, who has not settled well since his move from Inter Milan last summer.