Real Madrid confirmed Carlo Ancelotti as its new coach on Tuesday after weeks of speculation.

Given a three-year contract, he will be presented on Wednesday.

Ancelotti came from Paris Saint-Germain, where he was replaced on the same day by former France coach Laurent Blanc.

Ancelotti’s first task will be to nail down his squad, with striker Gonzalo Higuain likely leaving and the club linked to trying to lure Tottenham winger Gareth Bale after losing a complex bidding war for Neymar to Barcelona.

Contracting the 54-year-old Ancelotti brought to a culmination weeks of negotiations between Madrid and PSG. It remains Madrid president Florentino Perez’s driving ambition to re-establish his club’s reputation after watching bitter rival Barcelona hog the limelight in recent seasons.

Mourinho broke Barcelona’s grip on the domestic league for one season, but was unable to win for Madrid an elusive 10th Champions League.

Madrid hailed Ancelotti, and said he’d been “elected best coach in all leagues where he has coached - Italy, England and France.”

Madrid highlighted how its new coach, despite being born to parents who were farmers far removed from the world of football, has ascended to the point where, “you cannot understand football today without Carlo Ancelotti.”

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