Kaka agreed to contract terms with AC Milan on deadline day and reportedly accepted cutting his salary by more than half to rejoin his former club.

Following a free transfer from Real Madrid on Sunday, Milan announced on its website that the club reached a deal with the 2007 FIFA world player of the year early Monday.

Financial terms were not disclosed but the Gazzetta dello Sport reported that it's a two-year deal worth €4 million ($5.3 million) per season plus bonuses — a significant drop from the €10 million ($13.2 million) Kaka earned with Madrid.

However, the 31-year-old Kaka wants to play for Brazil at next year's World Cup in his home country and should feature more at Milan.

"I'm ecstatic. I'm returning home," Kaka told Sky Italia. "(Milan vice president Adriano) Galliani is right, certain love affairs never die. I can't wait to arrive, to play, to enter the San Siro. I'll have my No. 22 back. A lot of fans have sent me messages welcoming me back and that's really important to me."

With few other moves, Kaka's transfer was the highlight of deadline day in Italy. He was due to arrive in Milan mid-day and sign the deal.

Kaka joined Madrid from Milan in 2009 for €65 million ($92 million). But after injuring his left knee, he was never able to establish himself as a first-choice player in Spain.

Kaka hasn't played in an official match with Madrid since the arrival of Carlo Ancelotti, who coached him during his best seasons at Milan.

Kaka was the world's top player when he led Milan to the Champions League title in 2007 and also helped the Rossoneri win the UEFA Super Cup and Club World Cup.

While he doesn't seem to be the player he once was, Kaka should still be an able replacement for Kevin-Prince Boateng, who transferred from Milan to Schalke last week. He could line up either in attack alongside Mario Balotelli or share playmaker duties with Riccardo Montolivo.