It's July! The transfer window is officially open and Carlo Ancelotti is officially the manager of Real Madrid.
Months of speculation came to an end last week when the Italian jotted his signature on the contract to become the boss at the Bernabeu—a signature many had seen as a formality for a long time.
The Spanish press have been so excited by his arrival, they've been willing to publish anything and everything about him. Marca have even touched on his love life in an article titled "Carlo's Angels."
But is Ancelotti's arrival good or bad?
Certainly a lot of people will benefit from the 54-year-old's arrival, but that certainly won't be the case for everyone—so who are the winners and losers of his appointment?
Carlo Ancelotti distanced himself from the newspaper reports which have labeled him a "peacemaker," via ESPN, but his first move is likely to be one to restore a certain level of harmony.
Jose Mourinho caused an untold amount of debate last season—with his squad, fans and the media—by dropping Iker Casillas. If the new man in charge wants to avoid the same bother, he'll restore Spain's record appearance maker to the starting lineup.
Florentino Perez jumped the gun when he told Vicente del Bosque "you're fired" back in 2003. However, 10 years later, he has a chance to make amends with this appointment.
Ancelotti doesn't court controversy like his predecessor famously does. If Perez allows him time and space, it could be an approach which will continue Madrid's ascent back to the top of the European football tree.
If Marca are to be believed, the arrivals of Isco and Dani Carvajal were both given the nod of approval from Ancelotti before being completed.
If that's true, both are likely to feature strongly in the Italian's plans and can look forward to an exciting season in the famous white of Madrid.
Despite being linked with various forwards, Ancelotti is reportedly happy to enter the season with Alvaro Morata and Jese Rodriguez as genuine options in attack, according to Marca.
While managing AC Milan, the 53-year-old made sure his side "had a strong Italian soul" because that "should always be the case." It seems he's ready to implement a Spanish soul in the Spanish capital.
Paris Saint-Germain may have said publicly that nobody turned down their manager's position, but the opposite would seem true.
According to Sky Sports, ESPN and The Telegraph, Andre Villas-Boas, Fabio Capello and Arsene Wenger were among those linked with the French club, who eventually settled on Laurent Blanc, having reluctantly lost Carlo Ancelotti to Real Madrid.
If Carlo Ancelotti possessed any doubt over who to play as his right-back next season, Alvaro Arbeloa may have done him a massive favor on Sunday night.
The 30-year-old was hauled off at half-time in the Confederations Cup final. With Dani Carvajal's return, it could signal a fall from grace at both club and international level.
It's hard not to feel sorry for Diego Lopez. He was signed by Jose Mourinho when Iker Casillas got injured in January, and performed admirably as the club's No. 1.
Unfortunately the commotion it caused will probably see Ancelotti restore Casillas as the starting 'keeper, with Lopez left to play second fiddle or find another team—he at least deserves the latter.
Jose Mourinho seemed happy to have Jose Callejon around his squad during his time as Madrid's manager, and Callejon seemed happy with his bit-part role.
With Ancelotti seemingly more intent on playing the younger players—Morata and Jese—playing time could become even less of a premium for the 26-year-old Spaniard, though. Napoli and Liverpool are among his potential suitors, according to Marca.