According to reports, the head coach, who had finalized everything with the Brazilian Football Confederation, informed them on Tuesday that he would not accept the offer and is now evaluating a significant proposal from Saudi Arabia.

Carlo Ancelotti had traveled to London yesterday to sign his contract with the Brazilian Football Federation to lead the national team. He did not do so, but representatives overseeing the transfer expected him to sign the deal today in Madrid. However, Ancelotti has informed them that he will not accept the offer.

In fact, he personally contacted Ednaldo Rodrigues, the president of the Brazilian Football Confederation, thanking them for their interest. Meanwhile, Ancelotti is now considering a major and tempting offer from Saudi Arabia.

As reported by Marca yesterday, only the signing of the contract remained, but this agreement, unless something extremely unexpected happens, will not proceed.

Sources close to the negotiations feel that Carlo has clearly announced his decision. He first informed the representatives working for the federation that he could not join the team in June as they had requested and might be able to do so in August, which surprised the Brazilian Football Confederation, as they believed everything had already been coordinated and finalized. Even in Brazil, they believed he had secured Real Madrid’s approval to leave the team in June. Now, there is even a possibility that Ancelotti will lead Real Madrid in the Club World Cup.

Massive Offer from Saudi Arabia

Ancelotti may have encountered difficulties in reaching an agreement with Real Madrid to leave the team in June, but the main reason for his withdrawal appears to be an extremely lucrative financial offer from Saudi Arabia. The talk is of a net €50 million per season—a figure that is hard to turn down. The contract between the Brazilian Football Confederation and the Real Madrid manager had even been drafted and prepared, but in the end, this agreement will be canceled. Of course, this is not the first time such an incident has occurred; last season, the Italian coach considered another offer from Brazil but ultimately decided to stay at Real Madrid.