Ancelotti and Real Madrid reach agreement over exit: reports

Carlo Ancelotti is heading towards the exit door. At last, the long-running saga is seemingly coming to an end as the Italian head coach has reached an agreement with Real Madrid over the terms of his departure, reports 'The Athletic'.

Ancelotti was destined to become Brazil manager after meeting with the Brazilian Football Confederation (CBF) chiefs, but the move stalled as the 65-year-old needed to reach a definitive agreement with Real Madrid before he could sign with the 'Canarinha'.

But with a verbal agreement now in place, Ancelotti is set to leave Madrid before the end of the season. While formal steps remain to make the exit official, the Merengues must now decide on a successor to lead the team throughout the Club World Cup in the summer.

What's next?

Bayer Leverkusen's Xabi Alonso remains in pole position for Real Madrid. Confirmation that the German side will not stand in the way of Alonso should he decide to take the job arrived after club CEO Fernando Carro said that a gentleman's agreement was in place with the Spaniard.

As for the five-time Champions League winner, Brazil remains in the frame, with a move to Saudi Arabia also in the cards for him. According to the same report, Ancelotti will take over from Dorival Junior at Brazil, who was dismissed in March, and lead the team for June’s World Cup qualifiers.