Real Madrid president Florentino Perez has scheduled a press conference for 19:30 local time today (1:30pm EST) where it is expected the club will announce the departure of manager Carlo Ancelotti.

Prior to the press conference, Madrid’s board of directors will hold a vote which will officially decide Ancelotti’s fate. There is a concern among some members that removing the manager would be “hasty and risky”.

Ancelotti has one year remaining on his deal in Madrid, but it was reported last week that club officials have already targeted Napoli coach Rafa Benitez as his successor.

The Italian tactician assumed control of Madrid in June 2013 and led the team through the best calendar year in club history. In 2014, his players won the Copa del Rey, Champions League, UEFA Super Cup and the FIFA Club World Cup.

However, the second half of this season has seen the team knocked out of the Copa del Rey by Atletico Madrid, crash out of the Champions League at the hands of Juventus while being trumped by Barcelona to the La Liga title.

Real Madrid have been plagued by key injuries, poor form and player/fan unrest since the turn of the New Year and it appears Carlo Ancelotti has taken the hit for the team’s collapse; even though some feel club president Florentino Perez should share the blame for the club’s failure.

In recent days, Real Madrid players have come to Ancelotti’s defense, with the most-notable being star man Cristiano Ronaldo who took to his official Twitter account to praise the manager while expressing his hope that he would get to work with him again next season.

But it appears those requests have fallen on deaf ears.

Speaking after his side’s 7-3 victory over Getafe on Saturday, Ancelotti revealed that he would take a year’s sabbatical from management should he be sacked from Real Madrid. The understanding is that the manager needs to undergo spinal surgery.

However, it is understood that AC Milan have targeted the Ancelotti as their new manager and are hoping the 55-year-old will return to the Serie A side where he achieved domestic and European success between 1987-1992.

Milan CEO Adriano Galliani is flying to Madrid today to hold talks with Ancelotti and his representatives, as well as to speak to the agent of Sevilla coach Unai Emery.