Bayern München have confirmed that manager Pep Guardiola will depart the Bundesliga outfit at the end of the season, with Carlo Ancelotti confirmed as his replacement.
One of the worst-kept secrets in European football has now been confirmed by Bayern chief executive Karl-Heinz Rummenigge, who also revealed that former Chelsea and Milan boss Ancelotti has been lined up as the Spaniard's replacement.
"We are grateful to Guardiola for everything he has given our club and hope that we will celebrate many successes together this season," Rummenigge told Bild.
"Ancelotti can be a very successful coach for FC Bayern. We look forward to working together."
The news of Guardiola's departure at the end of the current campaign will be of great interest to several clubs in the English Premier League.
Manchester City have been strongly tipped with a move for Guardiola in recent times while Chelsea and Manchester United are also said to be interested in acquiring his services ahead of the 2016/17 campaign.
And, with Ancelotti already signed up for next season, Guardiola will be a man in demand when his contract expires at the end of the campaign.
Speaking to Bild ahead of the announcement made by Rummenigge, former Bayern coach Ottmar Hitzfeld said: "Ancelotti would be a great fit at FC Bayern. He has been successful everywhere, has won the Champions League three times.
"At this highest level, it's important that players know he can do it. And it's also important for the public image. A Bayern coach has to have a high reputation."