Real Madrid president Florentino Perez will reportedly sack Carlo Ancelotti at the end of the 2024-25 campaign.
Ancelotti has had huge success during two spells in charge of the Spanish giants, winning two La Liga titles, two Copa del Rey crowns and three Champions League trophies.
Last season, the Italian led Los Blancos to a La Liga and Champions League double, while the team have already secured a trophy this term, lifting the UEFA Super Cup at the start of the campaign.
Real Madrid can still win a La Liga and Copa del Rey double this term, but they were comfortably beaten in the quarter-finals of the Champions League, suffering a 5-1 aggregate defeat to Arsenal.
The capital giants lost 2-1 to Arsenal in the second leg of their last-eight clash on Wednesday night, and according to Fichajes, the decision has now been made regarding Ancelotti's future.
The report claims that Perez will sack Ancelotti, who has a contract at Bernabeu until June 2026, at the end of the current campaign, with the president looking for fresh ideas.
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Ancelotti 'set to be sacked' by Real Madrid this summer
"It's a disappointment to go out of the Champions League, it's normal to think so. It's the other side of football. There is the happy part, which has happened many times; and there is the sad part," Ancelotti told reporters after the defeat to Arsenal.
"We have to manage the sad part just as we manage the happy part. Now there are three competitions left and we have to be focused on LaLiga, the Copa (del Rey) final and the Club World Cup.
"Arsenal were better than us in both games. We tried everything in the tie. It could have changed with the penalty that was taken because it could have changed the momentum of the tie. But Arsenal defended well and we found it difficult to find space. In terms of intensity, we did better but it wasn't enough.
"I don't know [if it will be my last Champions League game]. Maybe the club will decide to make a change. It could be this year or next year, when my contract runs out. The day I finish here I can only do one thing and that is to thank this club.
"It could be tomorrow, in 10 days or in a year and the only thing I will do is thank the club. I don't care if my contract ends this year or next year.
"If someone thinks I'm the only one to blame, it's not going to change what I think in the next few days. I'm only thinking about preparing for the next game to stay in the fight for the league title and try to win the Copa del Rey."
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Who could replace Ancelotti at Real Madrid?
Bayer Leverkusen manager Xabi Alonso is the red-hot favourite to replace Ancelotti this summer, with the 43-year-old regarded as one of the best young coaches in European football.
Alonso, who played for Los Blancos between 2009 and 2014, led Leverkusen to three trophies last season, including a Bundesliga and DFB-Pokal double, in addition to the Europa League final.
This season, Leverkusen are second in the Bundesliga table, six points behind the leaders Bayern Munich.
Bournemouth's Andoni Iraola also has admirers at Bernabeu due to his excellent work at the Vitality Stadium, while he also made a huge impression for Rayo Vallecano before arriving in the Premier League.
Matt Law
