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?