Carlo Ancelotti has agreed terms on a contract renewal with Real Madrid until 2017, according to Marca.
The Italian recently confirmed that he planned to negotiate an extension with Los Blancos following a trophy-laden first season at the Santiago Bernabeu.
However, an agreement already appears to have been reached, the details of which will reportedly be announced after the Club World Cup.
Madrid will feature in the Morocco-based tournament between December 10 and December 20 as a result of triumphing in the Champions League.
Prior to these latest developments, Ancelotti's deal was due to expire at the end of next season.
