Carlo Ancelotti is set to drop the curtain on an illustrious yet tumultuous spell at Real Madrid at the end of the season.
According to The Athletic, the Italian manager and the club have agreed on the terms of his exit.
Ancelotti still has one year left on his contract, but both parties have decided to cut ties this summer.
The details of Ancelotti’s early exit have now been ratified and should be made official before the end of the season.
The 65-year-old has been treading a tightrope over the past few months. His future has been a major talking point, and on-field issues have only escalated matters.
Madrid were eliminated from the Champions League in the quarter-final after losing home and away to Arsenal.
They were thrashed by Barcelona in the Spanish Super Cup final and failed to get the better of their fierce rivals again in the Copa del Rey final.
To make matters worse, Barca are also running away with the La Liga title. Madrid could end the season empty-handed.
The manner in which the season has panned out is a disgrace for a club of Madrid’s stature, and Ancelotti is set to pay the price.
His exit should have been ratified earlier, but Madrid were trying to understand the financial implications of dismissing their manager before the end of his contract.
Despite the delay, Los Blancos will still be required to compensate Ancelotti for the remaining year of his contract.
The Italian is set to replace Dorival Junior as Brazil’s new head coach, while Madrid are lining up Bayer Leverkusen’s miracle worker Xabi Alonso as his replacement.
Alonso led Leverkusen to a historic double last season, winning the Bundesliga and DFB-Pokal.
Leverkusen also reached the Europa League final, although they were no match for a rampant Atalanta side led by the highly sought-after Ademola Lookman.
