It was breaking news on Sky Sports today that Carlo Ancelotti is the number one contender for the Chelsea job, and may already have agreed to a deal. Reports say that Ancelotti's representatives are currently holding talks with Chelsea, even though the AC Milan manager himself is not present in London.

AC Milan have refused to let Chelsea hold talks with the manager as they have expressed their desire to keep Ancelotti at the club. This, however, may not be possible since Ancelotti seems set to take over at Chelsea!

Mark Hughes is another manager on the move, as Blackburn have reportedly reached an agreement with Manchester City after he fell out of contention for the Chelsea job.

Manchester City are set to unveil Mark Hughes as their manager in the coming weeks, and will pay Blackburn around five million pounds in compensation for the manager.

Without doubt we will see more shocking transfers in the coming weeks as Inter sign Jose and AC Milan and Blackburn might now seek new managers!