Real Madrid have confirmed the appointment of Carlo Ancelotti as their new coach, with the former Juventus, Milan, Chelsea and PSG coach signing a three-year contract.

Ancelotti is set to be presented on Wednesday and will replace José Mourinho, who left at the end of last season to join Chelsea. "Familiar with the pressures of managing the great teams of the continent the Italian is a guarantee to direct an exciting project," Real Madrid said on their website.

Ancelotti, 54, has been linked with the post since Mourinho's departure and had asked to leave PSG, but the deal was reportedly held up until the French champions found a replacement. That man was Blanc, who was also appointed as Ancelotti's successor by PSG on a two-year deal. The 47-year-old Blanc, who left his job as France coach after their Euro 2012 quarter-final exit, led Bordeaux to the French title in 2009.

"Paris Saint-Germain is delighted to announce the appointment of Laurent Blanc as coach for the next two years. He will take charge of the squad on 1 July 2013 for the start of pre-season training," read a club statement "The board of Paris Saint-Germain has given Laurent Blanc the mission to build on last season and to continue the club's ascendency towards the summits of the European game."