PSG to Make Announcement Today Amid Reports It Hired Ancelotti

Dec. 30 (Bloomberg) -- Paris Saint-Germain said it will hold a news conference today amid reports the French soccer league leader is set to hire Carlo Ancelotti as its new coach.

The club said in a statement on its website last night that the event would begin at 3 p.m. local time at the Parc des Princes stadium in the French capital.

Ancelotti, who won league titles coaching Italy’s AC Milan and England’s Chelsea, will make as much as 7 million euros ($9 million) a year, making him the best paid coach in France, Le Parisien reported yesterday, without citing anyone. The 52-year-old was pictured with PSG officials yesterday.

Ancelotti will replace Antoine Kombouare, who was fired last week even though PSG tops France’s Ligue 1 at the midseason break. The Qatari Investment Authority bought control of PSG this year with plans to build it into one of Europe’s top teams. Former England captain David Beckham is also in talks to join the club, which last won the French championship in 1994.

To contact the reporter on this story: Dan Baynes in Sydney at dbaynes@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net