Spanish giants Real Madrid have appointed Carlo Ancelotti as its new coach in a three-year deal that would see the Italian earning around €6 million annually.

According to a report by Fabrizio Romano, Los Blancos are expected to pay a certain fee to terminate Ancelotti’s current engagement with English Football Club, Everton.

Ancellotti delivered the La Decima at Santiago Bernabeu in 2014 before he was sacked after spending two years between 2013-2015 with the most successful UEFA Champions League team.

Zinedine Zidane resigned his appointment with Los Blancos after stating his displeasure with the Real Madrid Board and the Spanish press who showed no faith in him.

Zidane was particularly not pleased with board president Florentino Perez even after he had led the team to three successive UEFA Champions League titles in his first spell as manager.

In his valedictory speech, Ancelotti appreciated the fans and board at Everton while pointing out that his return to Santiago Bernabeu was “the right move” he needed at this particular point in his life and career.

In his first spell with Los Blancos, Ancelotti won 89 games out of 119 games leading them to their 10th UEFA Champions League title and winning the Spanish La Liga in the same year.

In 18 months, Carlo Ancelotti appeared to have restructured the team at Goddison Park with numerous signings like Alan, James Rodriguez amongst others even though he took them to 10th in the EPL.

Ancelotti led the Evertonians to 12th and 10th in the EPL in the two successive seasons in charge in a disappointing feat that defeated his initial records of winning the Ligue 1, Bundesliga, La Liga and English Premier League.