Real Madrid president Florentino Perez has revealed that the club are close to appointing Carlo Ancelotti and capturing Isco from Malaga.
Ancelotti is set to leave Paris Saint-Germain to replace Jose Mourinho at the helm, while Real have seen off competition from Manchester City to capture highly rated attacker Isco.
On the Spanish club's probable new manager, Perez told 20Minutos: "Now nothing has been signed.
"PSG could announce an agreement tomorrow which would allow him to join Madrid. We hope that everything turns out well. My coach is Ancelotti.
"The signing depends on Paris Saint-Germain reaching an agreement with Ancelotti and announce their new coach, (Laurent) Blanc."
And regarding the signing of Isco, he added: "He has a big chance to be a Real Madrid player because he wants to go to Madrid and Madrid want him too.
"Isco is one of Spain's best players and the coaching team believe he's good enough to play for Madrid. I know he's excited to come. It's the same with me.
"If all goes well, we can announce his signing soon. Always after announcing the coach."
Ancelotti only joined PSG in December 2011, and led them to the Ligue 1 title in his first full season in charge.
Isco, meanwhile, rose to prominence last season during Malaga's run to the UEFA Champions League quarter-finals.