Carlo Ancelotti has agreed on a deal to replace Arsene Wenger as Arsenal boss, according to reports in Italy.
French tactician will still have one year on his contract at the end of the season, but the 68-year-old could reconsider his position if the Gunners end up without a medal this term.
Several managers have been linked with replacing Wenger, including Thomas Tuchel, Eddie Howe and Sean Dyche.
But Corriere Dello Sport reports that the Gunners now have an adjustment in place for Ancelotti to suit their next manager this summer.
The former Chelsea boss will sign a four-year deal with the Gunners worth £8.7 million a season, excluding bonuses.
As per the same sources, the Italian Football Federation are still trying to convince Ancelotti to refuse Arsenal and become the national team’s new head coach.
Ancelotti is keen to manage in the Premier League once again and is set to move back to London next month.
The Italian won the Premier League title and the FA Cup in his first season at Chelsea but was sacked by Roman Abramovich after finishing the following campaign without a trophy.
The 58-year-old is currently out of work after he was fired by Bayern Munich at the end of September.