Bayern Munich manager Pep Guardiola will leave the club at the end of this season, the club has announced.

In a widely expected move, Guardiola will leave the German champions after this season. Former Real Madrid gaffer Carlo Ancelotti will replace him.

Bayern chairman Karl-Heinz Rummenigge thanked Guardiola and said the announcement would not derail the team's ambitions this season.

"We are grateful to Pep Guardiola for everything he has given our association since 2013," he said. "I am convinced that Pep and our team will now work even more intensively from reaching the major sporting goals."