Ancelotti has explained his decision to depart Everton and join Los Blancos, as he replaces Zinedine Zidane in the hot seat at the Estadio Santiago Bernabeu.
"I would like to thank the Board of Directors, the players, and the Evertonians for the tremendous support they have all given me during my time at the Club," said Ancelotti in a statement published on Everton's official website.
"I have complete respect for everyone associated with Everton and hope they can achieve the exciting opportunities they have in front of them.
"While I have enjoyed being at Everton, I have been presented with an unexpected opportunity which I believe is the right move for me and my family at this time."
Ancelotti also published a tweet thanking everyone at Everton from his own personal Twitter account.
"I would like to thank Everton FC, my players and the supporters for giving me the opportunity to manage this fantastic and historical club," it read.
"I decided to leave as I have a new challenge with a team that was always in my heart, Real Madrid.
"I leave taking with me all the amazing moments we have experienced together and wish the Club and fans all the best."
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