David Beckham to Paris Saint Germain After Signing $230,000 Per Week Deal

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(PHOTO:REUTERS/Alex Gallardo)LA Galaxy soccer player David Beckham attends a news conference to announce the Herbalife World Football Challenge 2011 soccer tournament in Los Angeles July 12, 2011. Real Madrid will play in a friendly soccer match against LA Galaxy on Saturday .

David Beckham is reportedly joining France's Paris Saint Germain following the recent expiring of his contract with the Los Angeles Galaxy.

The free agent, who allegedly completed a medical exam at the Pitié Salpétrière hospital in Paris, is expected to make a formal announcement of his signing to the Ligue 1 leaders at an upcoming press conference. Club president Nasser Al-Khelaifi and sporting director Leonardo Araújo are scheduled to attend, according to ESPN.

The 37-year-old British football star has been training with Arsenal in recent days to maintain his fitness. Despite mounting speculation that manager Arsene Wenger was interested in signing him, his presence is said to be purely for fitness purposes.

"He has asked to come here and to work on his fitness. He has not done anything for a long, long time," Wenger told Sky Sports. "It's purely for fitness. There's no speculation about signing or anything."

Beckham is expected to begin formal training with his new club in the next two weeks time after signing his new $230,000 per-week deal, according to Daily Mail.

The French team reportedly appealed to Beckham in part due to it's alleged "family package." As part of his lucrative deal his wife Victoria and their four children will be housed in a luxury home which features a swimming pool, gym, home cinema and gardens.

"Luxury accommodation is all part of the family package – it's one which was worked on last year, and which has now been finalized," a source told the U.K. publication. "A superstar like David Beckham wants the very best and that's what he's going to get."

The signing comes less than one year after a similar deal worth $12 million reportedly fell through in 2012 due to "family reasons." These issues have since been resolved and both parties are said to be extremely happy.

Beckham is among a list of other football stars allegedly being considered for signing by PSG manager Carlo Ancelotti. Others reportedly include Roma's Daniele De Rossi and Napoli forward Marek Hamsik.