Carlo Ancelotti is set to leave Real Madrid at the end of the current season and club president Florentino Perez has reportedly approved a sizeable compensation package for the departing manager.
According to Relevo, Ancelotti will be paid the remaining €11 million on his contract, which still has one year to run.
Though the Italian tactician may not be formally sacked, he is expected to depart in order to assume the Brazil national team role ahead of their World Cup qualifiers in July.
Despite a disappointing Copa del Rey final loss to Barcelona and inconsistent performances this season, Ancelotti will exit on amicable terms.
Perez has also approved Ancelotti’s request to be named a lifetime club ambassador, a gesture acknowledging his historical contribution to the club.
Ancelotti, 65, remains Real Madrid’s most decorated manager in terms of silverware.
While the club still has a mathematical chance of winning La Liga, currently trailing Barcelona by four points, any title challenge will not alter the long-term plan.
Regardless of the season’s outcome, Ancelotti will leave as a club legend, a legacy the club intend to honor.
