KAKA's future is likely to be determined on Monday, according to AC Milan owner Silvio Berlusconi.
The Italian prime minister appeared on state television tonight to say that "there is still no decision" on whether the Brazil international will move to Real Madrid.
Hours before Berlusconi's appearance, Chelsea issued a statement denying reports they had tabled a bid of £73.5 million for the 27-year-old. Real Madrid's bid is reportedly worth £56 million.
Berlusconi, speaking to Rai, said he would first speak to the player, who is on international duty with Brazil this weekend, before announcing a decision.
"I will meet Kaka on Monday and then I'll tell you," Berlusconi said, before hinting that Kaka has elected to go.
"It is always the players who decide on their future, who have to decide how to pursue their career," he added.
"I did all I could but in the end he took his decision."
If Kaka does leave Milan, it seems that Madrid is his most likely destination.
Chelsea today moved to dismiss claims they were seeking to hijack the move after bringing in coach Carlo Ancelotti from Milan.
A statement on the club's official website read: "We have never made an offer to AC Milan for Kaka and therefore not one at this extraordinary level.
"As a consequence we have not discussed a salary with the player either.
"Any reports to the contrary are totally untrue."
Kaka's future has been in question since January, when Manchester City launched an audacious £100 million bid to sign him.
Kaka was a bit-part player in Brazil's World Cup winning squad in 2002, but has blossomed ever since.
He joined Milan from Sao Paulo back in 2003 for a fee of around 8.5million euros and won the Serie A title in his first season at the club.
He was a member of the Milan team that beat Liverpool in the Champions League final in 2007, while also winning the FIFA World Player of the Year award and the Ballon d'Or in that year.
A devout Christian, Kaka gained Italian citizenship in 2007 and has repeatedly stated his desire to stay in Milan.
An exasperated Kaka told Gazetto dello Sport on Tuesday: "I'll say it for the last time. The last time. I don't want to leave Milan.
"To the millions of Milan supporters, I say that I have made my choice. I have said I want to stay. Leave me in peace, please."
However, the Rossoneri's willingness to sell the Brazil star to City in the winter was reported to have unsettled him and opened the door to a possible future transfer.