Real Madrid have parted company with coach Manuel Pellegrini, paving the way for Inter's Jose Mourinho to take over.
The Spanish club's President Florentino Perez felt the opportunity to bring Mourinho to the club was one that could not be missed as they look to become the dominant force in Spain and Europe once again.
Speaking at a press conference following a board meeting at the Santiago Bernabeu, Perez confirmed the widely-anticipated news that Madrid had sacked the Chilean Pellegrini and intended to appoint Mourinho in his place.
Madrid will have to wait until Mourinho resolves his contract negotiations with Inter, with whom he has a deal until June 2012, to confirm the Portuguese as their new coach.
However, Madrid are closing in on the hugely-successful 47-year-old and Perez believes he is the right man to take the club forward.
"I am willing to recognise that I have committed some errors, (but) at this moment I am absolutely convinced the incorporation of Mourinho, who is one of the best coaches in the world, if not the best, is an opportunity Madrid, who fight permanently for excellence, couldn't let pass by," said the Madrid chief.
Mourinho, who led Inter to an unprecedented treble of Serie A, Coppa Italia and Champions League titles this season, is under contract with the Nerazzurri for another two years, but has a get-out clause in his deal which will be exercised should Madrid meet the fee of around 16million euros.
Mourinho, himself, is confident he will be coaching in Spain next season. After a meeting with Inter President Massimo Moratti yesterday and further talks with club representatives today, he told reporters: "Now I am on holiday, then I will go and work in Spain."
On top of this year's historic treble, the former Chelsea and Porto coach won the Serie A title and the Supercoppa Italiana trophy in his first year in charge of the Milan giants.
Source: Press Association Sport