The 31-year-old Brazilian was close to loan move to Old Trafford last summer before then manager Jose Mourinho cancelled the deal at the last minute, while Gunners boss Arsene Wenger failed in an attempt to bring him to the Emirates two years ago.
But both Premier League clubs are expected to reignite their interest now that Kaka has admitted it is the right time for him to leave Real Madrid and is looking for a new challenge away from Spain.
He said: I want to leave. I think now is the right moment for me and for the club for me to leave amicably.
“I have spoken to Ancelotti and with the club, they all know. Things are difficult for me now in the team, and the club knows what I want.
“It’s my obligation to work and keep training, but my father is already working to see if something comes up. I think it’s the best thing for me and the club.”
Kaka signed for Real Madrid in 2009 for a fee reported to be in the region of €70million from AC Milan, but his four years in Spain has largely been plagued by a knee injury he picked up in 2010.
Despite his knee troubles, Kaka has made 120 appearances in all competitions for Real Madrid, scoring 29 goals.
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