Jose Mourinho is set to be appointed the new coach of Real Madrid after the Spanish club sacked Manuel Pellegrini on Wednesday evening.
Pellegrini, who had only been in the hot-seat at the Santiago Bernabeu for one year, was widely expected to be axed after failing to land any silverware at the end of a season of huge investment in the Madrid squad.
Real lost out to Barcelona in the race for the Spanish title and saw their hopes of a dream Champions League final success at their Bernabeu home ended by a last 16 defeat to Lyon.
Meanwhile, Mourinho guided Internazionale to a first European crown in over 40 years and also a domestic double.
The Portuguese coach was strongly linked with the Madrid job 12 months ago but opted to stay in Milan for a second season.
However, all that remains is for the former FC Porto and Chelsea boss to reach a contractual agreement with Inter before he can be confirmed as the new coach of Real.
"I am willing to recognise that I have committed some errors, (but) at this moment I am absolutely convinced the incorporation of Mourinho, who is one of the best coaches in the world, if not the best, is an opportunity Madrid, who fight permanently for excellence, couldn't let pass by," said club president Florentino Perez.
"There is nobody on the board who has given an opinion against the signing of Jose Mourinho.
"On the contrary, they are enthusiastic at being able to recruit one of the best coaches in the world."
Former president Perez returned to office at the Bernabeu last summer and immediately sanctioned a summer of big-spending which brought players of the calibre of Cristiano Ronaldo, Kaka and Xabi Alonso to the club.
"The change of coach is always difficult, but we are convinced that after this first year and this first phase, now is the moment to give a new impulse to our project," he added.
"A year ago we there was a huge and unprecedented effort to configure and put together a squad capable of aspiring to the highest level.
"We have advanced a lot, but we still have a lot of ground to cover.
"This club demands the maximum and is always in search of excellence.
"Winning and being leaders in Europe has always been the desire of our members and fans, and therefore, that's the objective of this board."