Hamburg  - The biggest European football transfers this summer could hinge on the future of Bayern Munich's Franck Ribery.

The German Bundesliga lags behind the top leagues in England, Spain and Italy in income and class, but even World Footballer of the Year Cristiano Ronaldo will have to wait for Bayern's decision with bated breath.

Ribery has been linked with Chelsea because their expected new coach Carlo Ancelotti wants him. But the English media made a U-turn on Friday by saying that Chelsea have lost Ribery to Real Madrid.

That again could mean that Ronaldo is unlikely to move from Old Trafford to the Bernabeu and will stay put at Manchester United for another year - thus ending United's interest in Ribery.

However, it could also increase the likelihood that Real will finally land Brazilian Kaka from AC Milan as returning president Florentino Perez wants another era of "Galacticos" at the club.

Ribery, Ronaldo and Kaka are the biggest names on the pan-European transfer gossip list.

Munich insist that Ribery is not for sale as he has a contract until 2011, but have also signalled over the last days that he could leave if it doesn't harm the team, and if the price is right.

According to the English reports, Real's designated president Perez is ready to spend more than 40 million pounds (46 million euros, 63.7 million dollars) on the Frenchman.

Ronaldo's price tag would be almost double that of Ribery, while the playmaker Kaka would cost 65 million euros, according to Italian reports.

"Florentino Perez ... briefed Spanish journalists that Ronaldo has been replaced as his number one target by AC Milan's Kaka, with Franck Ribery also on the list," said The Daily Express.

Kaka has also been mentioned by Spanish reports like Cadena SER radio on Thursday. Looking at Ribery, Germany's Bild daily was among those on Friday who pointed out that the winger had the same manager as Perez's expected sports director Zinedine Zidane.

The Times said: "Real's eagerness to sign Ribery should put an end to their pursuit of Cristiano Ronaldo ... as they are not in a position to spend the best part of 100 million pounds (115 million euros) on two wide players."

But Bayern general manager Uli Hoeness reiterated in Friday's Bild that he wouldn't pick up the phone for such a sum.

"No one has contacted us so far. I wouldn't even lift the receiver for 50 million euros. For that sum you may get one of Ribery's legs," said Hoeness.

If Real (or anyone else) can reach an agreement with Munich it will only add to a unprecedented post-season turnover for German clubs.

Bayern themselves are spending a Bundesliga-record 30 million euros on VfB Stuttgart and Germany striker Mario Gomez, with Hoeness saying drily "yes" when asked whether Bayern had the money.

Not to be outdone, Werder Bremen are getting a maximum 27 million euros from Italy's Juventus for the sale of Brazilian playmaker Diego, the second biggest sum in Bundesliga history.

By comparison, Munich got Ribery in 2007 for what is now considered a bargain 25 million euros.

While Munich always have money to spend, Stuttgart and Bremen can invest heavily if they want to.

Stuttgart for instance are reportedly keen to get back Belarussian midfielder Alexander Hleb, which brings the freshly-crowned Champions League winners Barcelona into the frame as he spends most of his time on the bench there.

The treble winners Barca, for their part, were reportedly after Ribery as well but talks came to a halt after they were leaked.(dpa)