AC Milan will officially introduce Antonio Cassano on January 3, 2011 after they reached an agreement with Sampdoria to pay Real Madrid half of the 5 million euro buy-out clause, local media reported on Monday.

According to La Gazzetta dello Sport, Sampdoria will pay Madrid 2.5m euro of the clause inserted in Cassano's contract. Milan will pay the same amount.

The 28-year-old Italian will sign a three and a half year deal, netting him 2.8m euro per annum.

He will then become an official Milan player on January 3 when the transfer window reopens. Cassano is currently abroad, but he is scheduled to fly to Milan and pen his deal this week.