Real Madrid have confirmed they have re-appointed Carlo Ancelotti as manager after reports claim he accepted a pay cut in order to leave Everton and take the job.
The tactician officially signed the contract to June 2024 this evening.
It was a return to the Bernabeu, where he had won the Champions League during his 2013-15 tenure.
According to Sky Sport Italia and Tuttomercatoweb, the contract is worth €6m per season.
This is a pay cut from the €8m per season that Ancelotti was picking up at Everton.
The Italian turns 62 later this month and has won a title in all five major leagues except for Spain.
He won Serie A with Milan, the Premier League for Chelsea, Ligue 1 at PSG and the Bundesliga on the Bayern Munich bench.
Although he did win the Champions League for Real Madrid in 2014, the Club World Cup, the UEFA Supercup and Copa del Rey, he did not take La Liga.
A Los Blancos statement read: “Real Madrid C. F. announces that Carlo Ancelotti will be the club’s first-team coach for the next three seasons.
“The ceremonial signing of the contract will take place tomorrow with club president Florentino Pérez at Real Madrid City, after which Ancelotti will address the media from 6pm (CET) in an online press conference.”
Everton said: “Everton can confirm that Carlo Ancelotti has left his position as manager to take up the role of Head Coach at Real Madrid.
“Everton would like to place on record its thanks to Carlo for his service to the Club over the past 18 months. The Club will begin the process of appointing a new manager immediately and will provide updates in due course.”
Ancelotti, who joined Everton on a four-and-a-half-year contract in December 2019, said: “I would like to thank the Board of Directors, the players, and the Evertonians for the tremendous support they have all given me during my time at the Club.
“I have complete respect for everyone associated with Everton and hope they can achieve the exciting opportunities they have in front of them.
“While I have enjoyed being at Everton I have been presented with an unexpected opportunity which I believe is the right move for me and my family at this time.”
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