Pep Guardiola, 44, will not extend his contract with FC Bayern München. The German record champions’ new coach from 1 July 2016 will be Carlo Ancelotti. The 56-year-old Italian will receive a three-year contract expiring on 30 June 2019.

FC Bayern München chairman Karl-Heinz Rummenigge commented: "We are grateful to Pep Guardiola for everything he has given our club since 2013. I am convinced that Pep and our team will now work even more intensively towards achieving our major sporting goals – especially as it is now confirmed that Pep is to leave FC Bayern."

"Carlo Ancelotti has enjoyed success everywhere as a coach and has won the Champions League three times," continued Rummenigge. "Carlo is a calm, balanced expert, who knows how to deal with stars and favours a multifaceted style of play – we were looking for this, and we have found it. We are looking forward to working with him.”

Carlo Ancelotti commented: "I am very honoured that I will be coach of the great club FC Bayern from next season."

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Source: http://www.fcbayern.de/en