New Real Madrid president Florentino Perez hopes to thrash out a deal for Villarreal coach Manuel Pellegrini this afternoon.

Perez was confirmed as new Real president in the early hours of this morning and will be officially named as president today.

After the presentation, AS says Perez hopes to meet with Pellegrini, his agent, Jesus Martinez, and Villarreal president Fernando Roig in order to finalse a deal for the Chilean.

Roig confirmed over the weekend that Pellegrini's contract has a £3 million buyout clause. Perez doesn't want to pay a fee for the coach and instead will offer a Real player on-loan for next season in exchange.