It's a whole new Galaxy for Beckham as he heads off to LA in the summer

Former England captain David Beckham will leave Real Madrid at the end of the season and sign a five-year deal for MLS side Los Angeles Galaxy.

"This week Real Madrid asked me to make a decision regarding my future and the offer to extend my contract for a further two seasons," said Beckham.

"I would like to thank supporters and the people of Madrid who have made my family and I so welcome in my time here making this an extremely difficult decision to make.

"I have enjoyed my time here enormously and I am extremely grateful to the club for giving me an opportunity to play for such a great team and their amazing fans."

The 31-year-old, who joined Real from Manchester United in June 2003, is the most famous player to sign up for Major League Soccer since it began in 1996.

The deal is reported to be one of the biggest in global sport with Beckham set to earn more than $250 million over the duration of his contract.

The news ends months of speculation about the future of the midfielder whose contract with Real expires at the end of the season.

Having been first choice in the Real Madrid starting lineup since he moved to Spain, Beckham lost his place following the arrival of Italian coach Fabio Capello.

He has only started five of Real's 16 league games this season and was known to be frustrated with his lack of opportunities in the first team.

In terms of finances it is a mega deal and compares with the biggest in mainstream US sports American football and baseball.

The MLS have recently changed their salary cap rules to allow sides to make 'marquee signings' of top international stars. The Beckham deal will see the 31-year-old benefit directly from all his image rights and related sponsorship deals which in the past have had to be shared with his club.

The Real Madrid future of the world's most famous footballer had been shrouded in doubt, especially after coach Fabio Capello this week dropped him from the squad - the first time it had happened to Beckham since he moved from Manchester United in July 2003.

During those three and a half years, Beckham has seen six different coaches appointed while Real have failed to win a single trophy.

Capello's arrival at the start of the season could have heralded a new era for Beckham, who was dropped from new England boss Steve McClaren's squad in August, but instead he found himself often sidelined.

Real had been very keen to keep the midfielder - his marketing power remains a huge draw to fans across the globe - but after talks today he announced he will be moving to Los Angeles.