Mourinho, who guided Inter Milan to an history treble this season, is expected to be unveiled as Real boss as soon as an agreement is reached with the Italian club.
“I’m ready to admit to some mistakes but Mourinho’s hiring is an opportunity that Madrid could not miss,” said Real president Florentino Perez.
“What is still left to resolve is the interpretation, between Mourinho and the club, of his contract.”
Pellegrini, 56, failed to win any silverware in his first season in charge at the BernabÃƒÂ©u despite Los Blancos finishing with 96 points in La Liga.
Real Madrid’s impressive home League record under the former River Plate and Villarreal manager saw his side win 18 games and lose just oneÃ¢â‚¬â€against champions Barcelona.
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