OFFICIAL: Inter Milan release José Mourinho

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Real Madrid have agreed compensation with Inter Milan to bring coach José Mourinho to the Bernabéu next season.

It is understood Inter were originally demanding a €16 million severance fee to allow the Special One to leave his post at the San Siro two years early.

The clubs' respective presidents, Massimo Moratti and Florentino Pérez, met in Milan on Friday to thrash out a financial deal, worth a reported €8 million.

Mourinho will now replace Manuel Pellegrini in the Real hotseat after the Chilean was sacked on Wednesday night.

A statement on Inter's website read: "The president Massimo Moratti and Florentino Pérez met this afternoon.

"In light of the very good and constructive friendly relationship that exists between the two clubs, a deal has been agreed with relation to the contractual clause that links José Mourinho to Inter.

"The time and way in which the deal will be honoured have been defined.

"Massimo Moratti thanks Florentino Pérez for his willingness to reach a deal in Milan and out of courtesy he confirm, once again, the very strong link that exists between the two clubs."

Mourinho will be formally unveiled as the new manager of Los Merengues on Monday.

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