Benfica have announced former Fulham head coach Marco Silva has agreed a two-year contract to take over from the departing Jose Mourinho after Real Madrid met his €15 million ($17.3 million) release clause.
Both moves had been touted for a while but Mourinho's return to the Bernabeu for a second spell was incumbent on president Florentino Perez being re-elected.
That was confirmed on Monday after he won a landslide victory in the ballot, setting the wheels in motion.
"Benfica has informed the CMVM (Portugal’s securities regulator, the Comissao do Mercado de Valores Mobiliarios) that Real Madrid has formally expressed its intention to hire Jose Mourinho for the amount of 15 million euros, with the coach having given his agreement. Thank you, Jose Mourinho," said a statement from Benfica.
"Benfica announces, in a statement to the CMVM, that it has reached an agreement with Marco Silva for the signing of an employment contract valid for two seasons, extendable until 2028."
Silva has a hard act to follow as Mourinho's side were unbeaten in the Primeira Liga last season but finished third, eight points adrift of Porto, after drawing 11 of their 34 games.
Mourinho, meanwhile, will return to the Spanish capital for a second time having won LaLiga and the Copa del Rey between 2010 and 2013.
Real announced on Tuesday they had parted company with head coach Alvaro Arbeloa, who took over first-team duties when Xabi Alonso was sacked in January just six months into his reign, to pave the way for the return of Mourinho.
