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The former England captain is set to sign a five-year deal with the Major League Soccer club after his contract with Real Madrid expires on June 30 this year.
The incredible deal means that David will earn just under £500,000 a week for the duration of his contract.
He said in a statement: "This week Real Madrid asked me to make a decision regarding their offer to extend my contract. After considering several options to stay in Madrid or join other major British and European teams, I have decided to join LA Galaxy." The 31-year-old - who is married to former Spice Girl Victoria Beckham - used the occasion to thank his Spanish fans for all their support.
He said: "I would like to thank the supporters and people in Madrid who have made my family and I feel so welcome in my time here, something which has made this an extremely difficult decision to make. I have enjoyed my time in Spain enormously and I am extremely grateful to the club for giving me the opportunity to play for such a great team and their amazing fans." Real Madrid - who signed David after he left Manchester United in July 2003 - confirmed his departure.
A statement issued by the club read: "Both parties have agreed that David Beckham will not extend his current contact." David - who has established a soccer school in Los Angeles - is the biggest name to sign for a Major League Soccer club since the competition was set up in 1996.

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