Real Madrid have confirmed that Carlo Ancelotti will leave the club after their last game of the season against Real Sociedad on Saturday.
Ancelotti lifted 15 titles across two spells and six seasons at the club, a tally that includes three UEFA Champions Leagues, two La Liga titles and two Copa del Rey crowns.
The 65-year-old, who had a year remaining on his contract at the Bernabeu, will take over as Brazil boss on May 26, as confirmed by the Brazilian Football Federation a fortnight ago.
Xabi Alonso, who publicly revealed that he would not be continuing as Bayer Leverkusen manager last Friday, is widely expected to take over from Ancelotti as Real boss on June 1 in time for the FIFA Club World Cup.
A club statement on Friday read: “Real Madrid C. F. and Carlo Ancelotti have reached an agreement to end his time as Real Madrid coach. Our club would like to express its gratitude and affection to one of the great legends of Real Madrid and world football.
“Carlo Ancelotti has led our team through one of the most successful periods in our 123 years of existence and has become the coach with the most titles in our history: Three European Cups, three Club World Cups, three European Super Cups, two leagues, two Copa del Reys and two Spanish Super Cups. In total, 15 titles during the six seasons in which he has belonged to our club.”
On the Italian’s departure, Real Madrid president Florentino Perez added: “Carlo Ancelotti will forever be part of the great Madridista family.
“We feel incredibly honoured to have had the chance to enjoy a coach who has helped us achieve so much success, but who has also embodied our club’s values in such exemplary fashion.”
Ancelotti is replacing Dorival Junior as Brazil head coach, with the Selecao still licking their wounds after a humbling 4-1 World Cup qualifying defeat to Argentina in March.
The result left the five-time world champions languishing in fourth in the qualification standings on 21 points, ten points adrift of leaders Argentina with four matches remaining.
“Today we part ways again. Once again I take in my heart every moment lived in this wonderful second spell as Real Madrid coach,” Ancelotti said in a post on social media.
“They have been unforgettable years, an incredible journey full of emotions, titles and, above all, the pride of representing this badge.
“Thanks to the president Florentino Perez, to the club, to my players, to my staff and, above all, to this unique fan base that has always made me feel like one of them.
“What we have achieved together will remain forever in the memory of Real Madrid fans, not only for the triumphs, but for the way we achieved them. The magical nights of the Bernabeu are now football history.
“Now a new adventure begins, but my bond with Real Madrid is eternal. See you soon Madridistas.”