Ancelotti set to replace Kombouare at PSG

French and Italian newspapers reported today that Ancelotti is close to being hired as PSG manager (GETTY IMAGES)

Italian coach Carlo Ancelotti is reportedly on the verge of taking over at big-spending French club Paris Saint-Germain.

PSG are widely expected to part ways with Antoine Kombouare despite leading the French league going into the winter break, with French and Italian newspapers reporting today that Ancelotti is close to being hired as his replacement.

PSG declined comment on the reports, but issued a statement today saying it had "started amicable discussions" with Kombouare to resolve the situation.

French daily Le Parisien said Friday that Ancelotti is expected to sign for two and a half years and will take charge by Jan. 1, with L'Equipe and Italian newspaper Gazzetta dello Sport also saying the former AC Milan and Chelsea coach is set to take over.

AP