Carlo Ancelotti is in line for a sensational return to Real Madrid.
And this could have a major impact on Arsenal as they aim to reach an agreement with Los Blancos regarding a permanent deal for Martin Odegaard after he impressed on loan during the second half of the season.
According to Marca, Real Madrid have chosen Ancelotti to replace Zinedine Zidane who parted company with the La Liga giants last week following a disappointing campaign.
An announcement of the Italian's return could be imminent with the aforementioned report claiming he could be appointed by close of play on Tuesday.
Ancelotti back to the Real Madrid means he will be reunited with Odegaard who joined the club from Norwegian side Stromsgodset as a 16-year-old in January 2015.
However, Ancelotti has revealed this particular deal was not his idea and labelled it as a "PR exercise" for Real Madrid president Florentino
"When Florentino buys a Norwegian footballer, you simply have to accept it," he writes in his book Quiet Leadership, as per Sky Sports. "Furthermore, the president decided that he would play three games with the first team as a public relations exercise.
"He could be the best player in the world, but I don't care because he was not a player who I asked for.
"That signing was to do with PR."
Ancelotti's opinion of Odegaard may have changed in the years that have passed, but if the midfielder is not in his plans then it will be fantastic news for Arsenal.
Although that depends on if Perez's stance has softened.
As per the Mirror, the Real Madrid president is Odegaard's biggest admirer at the club and would block any type of transfer that would see the 22-year-old leave permanently.
With that said, the coming days should shed some light on what the future holds for Odegaard.
