Former Real Madrid coach Carlo Ancelotti has been appointed the new manager of Premier League side Everton.

The Liverpool-based club made the announcement ahead of today’s fixture at home to Arsenal, who also have a new man in charge.

Spaniard Mikel Arteta, who played for the Gunners from 2011-2016, succeeds his compatriot Unai Emery, who was fired in November.

Ancelotti has signed a four-and-half-year deal and Everton have hailed him as “one of the world’s most successful managers”.

He will observe today’s game with caretaker manager Duncan Ferguson staying in charge for a final match.

Ancelotti, who will take up the managerial reins on Sunday, said: “This is a great club with a rich history and a very passionate fan base. There is a clear vision from the owner and the board to deliver success and trophies.

“That is something that appeals to me as a manager and I am thrilled at the prospect of being able to work with everybody at the club to help make that vision a reality.

“I have seen from the performances in the last two weeks that the players are capable of so much. The work Duncan has done is a great credit to him. Strong organisation, strong discipline and the right motivation are some of the key ingredients in football and I’m pleased that he will be part of my backroom team moving forward.”