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Pellegrini set to coach Real Betis - report

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MADRID (Reuters) - Former Real Madrid and Manchester City coach Manuel Pellegrini is set to take over at La Liga side Real Betis from next season, Spanish newspaper El Pais said on Wednesday.

The report in El Pais said the Chilean, 66, has agreed to sign a two-year contract with the option of a third year with Betis, who sacked coach Rubi last month.

One of Spain's best-supported clubs with more than 50,000 season ticket holders, Betis are currently 14th in La Liga, nine points above the relegation zone.

A report in newspaper Marca said the club wishes to wait until they have mathematically guaranteed their status in the top flight before announcing they have hired Pellegrini.

Pellegrini won the Premier League title with City in 2014 as well as two League Cups and had successful stays in Spain's top-flight with Villarreal, who he took to the Champions League semi-finals in 2006.

He led Malaga into Europe's top competition for the first time in 2012 and to the last eight of the competition the following year, losing to eventual finalists Borussia Dortmund.

He achieved a then club record of 96 points with Real Madrid in the 2009-10 season but failed to pip Barcelona to the title and was sacked and replaced by Jose Mourinho. He also oversaw an embarrassing last-16 elimination in the Champions League to Olympique Lyonnais.

Pellegrini's last job was with Premier League side West Ham United, who sacked him last December due to poor results.

(Reporting by Richard Martin; Editing by Christian Radnedge)