Carlo Ancelotti set for huge payday! New Brazil boss to become world's highest-paid international manager after agreeing Real Madrid exit

Ancelotti will leave Madrid at the end of the season, having agreed to take over as Brazil coach at the end of May with the aim of guiding the Selecao to next year's World Cup.

According to The Telegraph, the 65-year-old will earn £8 million ($11m) per year with the South American nation, more than any other coach at international level.

Ancelotti leaves Madrid after a disappointing season that will likely end without a trophy, with last weekend's 4-3 loss to Barcelona leaving them seven points behind Hansi Flick's side in La Liga with three games to go. Brazil, meanwhile, are fourth in World Cup qualifying after 14 matches, trailing leaders Argentina by 10 points.

The Italian manager will see out the campaign with Madrid before bowing out at the Santiago Bernabeu, with Xabi Alonso expected to take his place after confirming his exit at Bayer Leverkusen.