Ancelotti to succeed Guardiola as Bayern Munich coach from next season

Bayern Munich have confirmed that Italian Carlo Ancelotti will be their head coach from the next season for three years after Pep Guardiola on Sunday decided not to renew his contract with the record German football champions.

"Pep Guardiola will not extend his contract with FC Bayern Munich. 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 June 30, 2019," five-time European champions Bayern said in a statement.

Bayern 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.

"He 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."

Ancelotti has won the European Champions League three times, twice with AC Milan and once at Real Madrid, and guided Chelsea to the Premier League title and FA Cup in 2010. The Italian has not coached a side since parting ways with Real Madrid last season.

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

Current coach Guardiola, 44, has been linked with English sides Manchester City, Manchester United, Chelsea and Arsenal. The former Barcelona coach has won two league titles and the German Cup since joining Bayern in summer 2013.

As well as the league and cup titles, Bayern have also reached the the semi-finals of the Champions League in Guardiola's two season in charge, with Real Madrid knocking them out in 2013-14 and Barcelona the following season.

Bayern are also looking comfortable in their Bundesliga title defence, enjoying a eight-point difference with second placed Borussia Dortmund after 17 games.