Sky Sport Italia claim Fabio Capello will be announced as PSG Coach on Wednesday, freeing Carlo Ancelotti to Real Madrid.
The report circulating this evening suggests Capello was chosen ahead of Tottenham boss Andre Villas-Boas.
Even then, Sky Sport Italia maintain Capello is only a stopgap solution, because Paris Saint-Germain have already lined up Arsene Wenger for 2014-15 when his contract with Arsenal expires.
Meanwhile, PSG bringing in a new Coach means Ancelotti is free to take over at Real Madrid.
In turn, sacked Manchester City manager Roberto Mancini could replace Capello on the bench of the Russian national team.