Transfer news

The news was confirmed tonight that Ronaldo has signed for Real Madrid. Terms appeared to have been agreed earlier in the day with Inter Milan, who immediately moved to sign Lazio's Crespo as a replacement. The agreement was set at 52 million Euros, being 20 million Euros payment, plus 22 million Euros for striker Fernando Morientes and a further 10 to 12 million Euros for a second player who would join in January.

The deal though hinged on Morientes being transferred on by Inter to FC Barcelona for a similar 22 million Euros fee. This proved to be a stumbling block, and after long negotiations Barcelona finally broke off talks claiming that the player was asking for too much.

With less than two hours to go before the midnight Champions League inscription deadline, Madrid president Florentino Pérez reopened negotiations with his counterpart at Inter, and they finally agreed new terms of a 35 million Euros fee, payable in six-monthly instalments over the next three years, plus a player (reportedly one to be chosen from Flavio, Munitis, Miñambres or Raúl Bravo) who would join Inter in January, valued at 10 million Euros. (31.08.02)