Real Madrid president Florentino Perez called a press conference this evening where he announced the departure of coach Carlo Ancelotti.

The Madrid president said "It was not an easy decision but it is time to reinvigorate the team to conquer new titles...I want to publicly thank Carlo Ancelotti work during these two years"

Perez also said :"It would be good that the new coach speak Castilian" adding fuel to the rumour that former Chelsea and Liverpool manager Rafa Benitez is going to replace Ancelotti.

The Italian led Los Blancos to victory in the Champions League and the Copa del Rey last season. Ancelotti also guided Madrid to a club-record 22-game winning streak during the first half of the current season which culminated in Club World Cup glory in December.

However, Madrid's form dipped after the winter break under the guidance of the former Chelsea, PSG and AC Milan manager, which resulted in Barcelona overtaking them at the top of La Liga. Ancelotti’s charges also suffered Copa del Rey elimination at the hands of Atletico Madrid and a European semi-final exit at the hands of Juventus.