David Beckham praised the Los Angeles Galaxy and reiterated his desire to continue as a football missionary yesterday after the Major League Soccer club confirmed the midfield player’s unique “timeshare loan” to AC Milan yesterday.

“I’m really grateful to the LA Galaxy and AC Milan for making this dream deal happen,” Beckham said. “It allows me to play for AC Milan and the LA Galaxy in the same year, and also to continue my commitment to develop soccer in the United States, which is something I am passionate about.”

The Galaxy rubber-stamped the deal late on Saturday night, leaving Beckham free to remain at the San Siro until June 30. Milan’s 3-0 victory over Atalanta yesterday would have been his farewell appearance for the club had a deal not been struck. The former England captain will return to the MLS club in July for the second half of their season, but no official statement has been made about Beckham’s status after that.

The arrangement is a logical compromise after Milan offered only $3 million (about £2.1 million) to sign Beckham outright, well short of the $10 million minimum expected by Los Angeles despite a clause in the midfield player’s £32.5 million contract that would have allowed him to leave for nothing in November. As revealed on Times Online on Friday, Beckham will contribute $3 million of his personal finances to help to fund the extended loan arrangement.

“Beckham is one of the few players who show their affection for a club in a tangible manner,” Adriano Galliani, the vice-president of Milan, said. “Everyone is happy to say such things, but few actually give up a mountain of money to wear the Rossoneri jersey.”

Beckham hopes to join England after the end of the Serie A season in May for the World Cup qualifying ties away to Kazakhstan and at home to Andorra in early June and will have a break of about a month before resuming competitive football.

He will not be eligible to play in league games until the international transfer window reopens on July 15.

“All along it has been our intention to keep David Beckham as a member of the Los Angeles Galaxy,” Tim Leiweke, the chief executive of AEG, the LA Galaxy’s owners, said. “We are pleased that he is returning and, at the same time, we feel it is important to allow him to finish his run in Milan.”