Manchester City have been drawn against Real Madrid in the semifinals of the Champions League, while Atletico Madrid will take on Bayern Munich.
City, in the final four for the first time in their history, will meet Zinedine Zidane’s side at the Etihad on Tuesday, April 26 before making the trip to the Bernabeu on Wednesday, May 4.
Real Madrid have won the European Cup 10 times, last winning the competition two years ago when they beat Atletico in the final.
Real Madrid and City have played twice before in Europe in the 2012-13 Champions League group stage — Madrid won 3-2 in Spain and drew 1-1 at City.
Pellegrini coached Real Madrid for 2009-10, winning 36 of his 48 games in charge — but they lost out on the La Liga title to Barcelona by three points and he was sacked shortly after the end of the season.
Atletico, who have twice been runners-up in 1973-74 and 2013-14, will entertain 2012-13 champions and five-time winners Bayern Munich on Wednesday, April 27 before the return at the Allianz Arena on Tuesday, May 3.
The only time the two teams have met in Europe was in the 1974 European Cup final, the original tie finishing 1-1 draw before Bayern won the replay 4-0.
Bayern boss Pep Guardiola is attempting to win the Champions League for a third time after lifting the trophy with Barcelona 2008-09 and 2010-11.
The draw also keeps alive the prospect of Guardiola coming up against Man City in the final, with the coach taking over from Manuel Pellegrini at the Premier League club on July 1.
To be played April 26 and May 4:
Manchester City vs. Real Madrid
To be played April 27 and May 3:
Atletico Madrid vs. Bayern Munich
The final is at the San Siro in Milan on Saturday, May 28.