Everton have confirmed Carlo Ancelotti as their new full-time manager on a four-and-a-half-year deal running until the summer of 2023.
The Toffees have been on the market for a new permanent manager since sacking Marco Silva at the end of last season.
Everton have carried out positive discussions with Ancelotti's camp over the last week and have now got a deal over the line for the Italian.
Duncan Ferguson has overseen Everton's last three matches as caretaker manager and will be in the dug-out for Saturday's home game with Arsenal.
Ancelotti will instead watch the match from the stands before taking over as manager after the match, with Ferguson remaining on the coaching staff.
The 60-year-old was sacked as Napoli manager just over a week ago and had intended to wait until the summer before returning to management.
However, Everton have succesfully managed to accerlate Ancelotti's plans, helped by the fact they have made the former Chelsea manager one of the best paid coaches in the world.
While Ancelotti does not carry the same reputation he did earlier in his managerial career, his appointment is still a huge coup for Everton. In fact, no manager has won the European cup more times than Ancelotti (3).
