"He was our number one target from the day sports director Predrag Mijatovic and coach Fabio Capello started planning the team," Real Madrid president Ramon Calderon said according to a statement on the club's official website.

Cannavaro's former club Juventus was relegated during the recent Italian match-fixing scandal and forced to offload players.

The 33-year-old defender, along with Brazilian midfielder Emerson, was snatched up by Real Madrid, signaling the exodus of players from the Turin club.

Leaving the shame of Juventus behind Cannavaro was praised by Calderon as a role model for young players throughout the world.

"He is an example for all young players. He was a ball boy at the World Cup finals in Italy in 1990 and since then has had an extraordinary career," Calderon said.

"He is the first signing of my presidency and is an authentic number one, a great leader," the president said.

It's been a long road for Cannavaro from ball boy to World Cup team captain, where he won his 100th cap in the penalty shoot-out win over France in the final, and the Italian defender has handled all of it with grace.

"I had good times with Juventus but when you are offered the chance to come to Real at almost 33 years of age it is a great opportunity," said Cannavaro.

"I think it would have been difficult to move if Juve were still in Serie A. I didn't think there was much chance of this happening and Juve also saw it as an opportunity for the club."

One fact made the move from Turin to Madrid easier was the opportunity to work with former Juventus boss Capello once more.

"The Capello factor is very important. We both know each other very well," he added.

Cannavaro is already looking ahead, and confident in Real Madrid's chances in the upcoming Champions League tournament.

"My maximum objective now is to win the Champions League. This kind of target gives me the inspiration to keep training and fighting."