Ancelotti set to take PSG reins

Ancelotti is expected to sign for two and a half years (GETTY IMAGES)

Italian coach Carlo Ancelotti is reportedly on the verge of taking over at the big-spending French club Paris St-Germain.

PSG are widely expected to part ways with current manager Antoine Kombouaré despite leading the French league going into the winter break.

PSG declined to comment on the reports, but issued a statement on Thursday saying it had "started amicable discussions" with Kombouaré to resolve the situation. French daily Le Parisien said yesterday Ancelotti is expected to sign for two and a half years and will take charge by 1 January, with L'Equipe and Gazzetta dello Sport also saying the former Chelsea coach is set to take over.