Carlo Ancelotti will start his new role as manager of Everton on Monday.

Ancelotti’s lawyers were at former club Napoli on Thursday to finalise pay-off terms.

Everton held talks with Ancelotti on Monday in London’s Mayfair, where majority shareholder Farhad Moshiri has a house, and the move would go down as the biggest managerial appointment in the club’s history, as well as a massive show of ambition.

Moshiri considered a number of options ranging from Vitor Pereira to former manager David Moyes and Bournemouth’s Eddie Howe.

But appointing Ancelotti, a three-time Champions League winner, is something Moshiri viewed as a game-changer and the Italian will be rewarded with a long-term contract.

Ancelotti will have his son, Davide, as his assistant on the coaching staff and there will also be a place for Ferguson. The Scot was placed in charge in a caretaker capacity after Marco Silva’s sacking on December 5. +4

He has since overseen a revival, with a win against Chelsea followed by a draw at Manchester United, although Everton crashed out of the Carabao Cup on Wednesday, losing to Leicester on penalties after a 2-2 draw.