Alessandro Del Piero will play for the Delhi Dynamos and will take up an ambassadorial role in the Indian Super League
Leicester have signed Argentina international midfielder Esteban Cambiasso on a one-year contract.
Rafael's agent claims the full-back is set to sign a new contract at Manchester United and that his twin brother Fabio is ready to join Queens Park Rangers on loan.
Brazil international Rafael has made over 80 appearances for United since joining the club in 2008, although his opportunities have been restricted by injury.
The 21-year-old is an important part of the Red Devils' future plans and reports suggest he is ready to finalise an extension to stay at Old Trafford until 2016.
His agent Cassiano Pereira told Estadao ESPN: "Rafael is very happy to stay at Manchester United, who are one of the giants of world football and always play in Europe's biggest competitions.
"Manchester United are the club that opened the door to Europe for him. He is loved, respected and has prestige at the club.
"We are all very happy that he is renewing his contract."
However, Rafael's sibling Fabio is set to head out on loan next season to build up his first-team experience and is being lined up for a switch to QPR.
Fabio has made 53 appearances for United and was a target for Benfica, but Pereira says staying in the Premier League will be more beneficial for the defender's long-term career.
Pereira added: "Fabio is a promising player and he needs to play. Because of that, Alex Ferguson suggested that he be loaned out to get more experience.
"He is a sought-after player because he is still young, and we think that his transfer to QPR was the best decision at the time.
"We received some offers from Germany and Portugal, but he preferred to stay in England to remain in touch with the country's football style and so that he would not have a problem to adapt to it when he returned to United."