Jose Mourinho is likely to leave the Spanish giants this summer, with Ancelotti believed to be a front runner for the post.
Responding in a press conference to the suggestion reported by Le Parisien that a verbal agreement has been reached with Madrid, the Italian said that such reports were simply “not true.”
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.