ANKARA

Real Madrid announced that they have agreed with Italian Carlo Ancelotti for the manager seat vacated by the departure of Zinedine Zidane.

Ancelotti will sign a 3-season contract with club president Florentino Perez on Wednesday, the Real Madrid Club said in a statement.

The 61-year-old manager, who most recently coached England's Everton team, worked at Real Madrid between 2013 and 2015.

Real Madrid won 1 La Liga championship, 1 UEFA Champions League, 1 UEFA Super Cup and 1 FIFA Club World Cup under his management.

The financial loss caused by the unilateral termination of Ancelotti's contract, which earned 12 million euros per season from Everton, will be covered by Real Madrid, according to Spanish media.