Carlo Ancelotti is set to return to Real Madrid as manager after previously holding the job from 2013 to 2015, according to David Ornstein of The Athletic.
The 61-year-old spent the past year at Everton in the Premier League but will terminate his contract with three years remaining, per Fabrizio Romano.
Ancelotti led Real Madrid to a UEFA Champions League title in 2014 but was let go in 2015 after his second season without a La Liga crown.
This article will be updated to provide more information on this story as it becomes available.