Cristiano Ronaldo has agreed to transfer to Real Madrid from Manchester United for a contract term price of $130 million. He will be fully casted into the team by July 1.

Ronaldo will be bound for a six-year contract with Real, having effectivity all the way until 2015. He is scheduled to be compensated by as much as $18 million per season, making him the highest paid player in the whole world.

Real’s record transfer price for Ronaldo will mark the fourth time that they have set a world record setting a transfer price for a player entering into their team.