Thomas Tuchel has reportedly agreed terms with Paris Saint-Germain to take over from Unai Emery as the club's manager this summer.
In a major blow to both Arsenal and Chelsea's chances of landing him, the German has apparently opted to take up the reins at Parc de Princes with the riches on offer in the French capital.
Tuchel is said to have met with PSG chairman Nasser Al-Khelaifi in Qatar after the club's elimination from the Champions League at the hands of reigning champions Real Madrid in February and, after extensive talks took place between the pair during and after that initial meeting, a deal seems to have been struck.
The ex-Borussia Dortmund and Mainz boss will now manage outside of his homeland for the first time, but his decision to head to Ligue 1 instead of the Premier League will be terrible news to the ears of Chelsea and Arsenal.
The London duo had attempted to convince the 44-year-old to head to either Stamford Bridge or the Emirates instead this summer as the futures of Antonio Conte and Arsene Wenger continue to be speculated about.
Conte has been linked with a return to Italy over rumors that he is homesick and amid a backdrop of constant frustration over the Blues' transfer policy - a factor that is said to have annoyed Chelsea's board so much that they may look to sever ties with him in June.
Wenger, meanwhile, may also be allowed to leave earlier than his contract would allow him to. The Frenchman has come under intense pressure again this term for failing to mount a title challenge or secure any semblance of silverware for the Gunners.
The 67-year-old penned a two-year deal to remain in place last summer but Arsenal could look to end that agreement 12 months early if they feel Wenger cannot take them any further.
Tuchel, who had also been linked with the Bayern Munich job, will now be tasked with leading PSG to Champions League glory as Al-Khelaifi eyes European football's most prestigious trophy.