After many weeks of speculation, a deal has finally been agreed for Carlo Ancelotti to become Real Madrid's head coach.
Rumours have been rife over who would replace Jose Mourinho, but Ancelotti had been the favourite for some time prior to his appointment. It had become more of a matter of when, than who.
The Italian has signed a three-year contract having left his post at Paris Saint-Germain after just one full season in charge.
Ancelotti led PSG to the Ligue 1 title during the 2012/2013 campaign, as well as taking them to the Champions League quarter-finals where they fell short to Barcelona.
Real Madrid feel Ancelotti is the ideal man to lead the club forward. In a statement on their website they said: "Familiar with the pressures of managing the great teams of the continent (Juventus, Milan, Chelsea and PSG) the Italian is a guarantee to direct an exciting project."
The delay in Ancelotti's appointment was thought to be due to PSG needing to find a replacement before letting the 54-year-old leave.
It was announced simultaneously this morning that Laurent Blanc, the former France coach, was to fill the vacancy at PSG left by Ancelotti. Blanc was given a two-year deal.
A club statement said: "The board of Paris Saint-Germain has given Laurent Blanc the mission to build on last season and to continue the club's ascendency towards the summits of the European game."
Ancelotti will face a tough start to his career at Real Madrid, with the club in need of some fresh faces, while some of the players already present are reported as desiring moves away.
It will be up to Ancelotti to decide who he wants to keep, and who is allowed to leave.
The futures of Gonzalo Higuain, Cristiano Ronaldo, and the reported impending transfer of Isco will all be high on the agenda of tasks to get sorted immediately.
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