Lucas Silva is unlikely to join Real Madrid in January with the Spanish giants not planning to make any transfers.
When Carlo Ancelotti signs a three-year contract to become Real Madrid's new coach on Wednesday afternoon, president Florentino Perez will have finally landed his man.
A statement published on Real's official website on Tuesday confirmed the 54-year-old Italian as Perez's choice to succeed returning Chelsea boss Jose Mourinho and the appointment will be formalised in the Santiago Bernabeu's royal box at 1200 BST before he meets the Spanish press for the first time.
Ancelotti's arrival draws a line under the debate concerning his exit from Paris St Germain, where he will be succeeded by Laurent Blanc, and it supplies Perez with the coach he hopes could deliver a first Champions League trophy to Madrid since 2002.
"Carlo Michelangelo Ancelotti will coach Real Madrid next season," the statement read. "The Italian has experienced success in every country where he has managed and arrives in the Spanish capital after being named coach of the season in France.
Also quoted on Real's website was an extract from Ancelotti's 2009 biography 'Preferisco la Coppa' (I Prefer The Cup), in which the Italian recalls how Perez would always say goodbye to him at social functions using the same phrase: "Carlo, you'll be my coach someday."
A two-time Champions League winner with AC Milan, Ancelotti has won domestic league titles in three different countries during spells with the Rossoneri, Chelsea and PSG.
His eight-year stint at San Siro, where he had previously enjoyed five successful season as a player, also saw him claim the Serie A title, two UEFA Super Cups, the Club World Cup, two Coppa Italia trophies and the Italian Supercoppa alongside Champions League triumphs in 2003 and 2007.
A move to Chelsea to succeed Guus Hiddink materialised in 2009 and, after lifting the Community Shield in his first competitive game as Blues boss, he guided the Londoners to a league and FA Cup double in 2010. He was, however, sacked in May 2011 after Manchester United reclaimed the Premier League title.
After six months out of the game, ambitious PSG lured Ancelotti to Paris in December 2011 and he clinched the Ligue 1 title at the end of his first full season in charge.
Real's priority remains securing the Champions League trophy for the first time since 2002 and Ancelotti's record in the competition is likely to have helped him edge out his rivals for the position.
The club are also determined to reclaim the Primera Division title from Barcelona after Mourinho's last season in charge saw Real finish a disappointing 15 points shy of the Catalans.