What happened: Villarreal have settled on Rayo Vallecano boss Iñigo Pérez as their next head coach after sealing Champions League qualification, per Fabrizio Romano. Pérez is the clear favorite and is ready to take over, but no move will be made until Rayo Vallecano's Conference League run is finished. Out of respect for his current club, Pérez wants to focus on the Conference League final first.

Why it matters: The decision lines up Rayo Vallecano's Conference League final against Crystal Palace with one of LaLiga's most coveted bench openings, and signals Villarreal's intent to pair a Champions League return with a young, in-demand coach. It also caps a managerial market where most candidates jump at the first bigger offer — Pérez is doing the opposite.

What to watch: Watch Rayo Vallecano's Conference League final result, after which Villarreal are expected to formally move for Pérez. An official announcement is unlikely before that match is played.