Carlo Ancelotti has agreed to return to Real Madrid as manager on a contract to 2024 and his appointment is due to be announced once compensation has been settled with Everton.
The Italian has three years remaining on the £11m-a-year deal signed in December 2019 and recently dismissed the possibility of returning to the Bernabéu as Zinedine Zidane’s successor. But Madrid’s president, Florentino Pérez, has made a determined effort to rehire the coach he sacked a year after winning the Champions League in 2014.
Ancelotti guided Everton to a disappointing 10th-place finish in his first full Premier League season with the club but was instrumental in attracting James Rodríguez and Allan to Merseyside.
Everton would likely have Moyes on any shortlist to replace Ancelotti but West Ham have no intention of losing him and are close to finalising a new three-year deal with their manager.
Ancelotti, one of three managers to have won the Champions League/European Cup on three occasions, was asked about the possibility of rejoining Madrid on 18 May.
He said: “This is good publicity for me to be linked with Real Madrid but it is not true. I am really happy to stay here. We have difficulties of course but I feel good at Everton and my target is to make Everton better and better every year.”