As reported by the Mail, Ancelotti - who has won league titles in Italy, England, France and Germany - favours a return to club management, with Arsenal rumoured to be a possible destination for him with Arsene Wenger leaving.
The Frenchman will leave the club at the end of the current campaign after 22 years in charge of the Gunners, but his last season won't end in a blaze of glory.
Former Arsenal captain Cesc Fabregas describes departing Gunners manager Arsene Wenger as a "special man" who "changed English football".
The 68-year-old will step down following Sunday's clash at Huddersfield, ending a spell of nearly 22 years in charge of the Gunners.
He added: "It'll need some time but I'm sure I'll fully recover in time for the World Cup". My brain demands work and is active.
Arsenal will be a big test and although Leicester City are a decent side, I don't think they will be able to get anything other than a loss from this game.
Cardiff City seal automatic promotion to Premier League
There was another one after full time, when Cardiff's Malaysian owner, Vincent Tan , was carried on the shoulders of fans. Cardiff didn't so much win promotion to the Premier League , as were gifted it by a poor performance in Birmingham .
It's yet another sign that Wenger is ready to continue managing, pointing to the fact that he was likely forced out of Arsenal by the board of directors after two hard seasons, ensuring a second season outside the UEFA Champions League.
Even though, Allegri has emerged frontrunner, Carlo Ancelotti and Luis Enrique, both now out of work, have been linked with the Arsenal job. "Try and support people when they suffer". I don't know why."The recovery will be full because the advantage of surgery is that it heals the inflammation".
"There is huge potential in there and good spirit". It needs two or three additions and this team will compete for the championship next year'.
"If he wants my advice, I will give it to him. Then I will analyse the offers".
"Koscielny is of course devastated because of course he has (had) surgery", he said.
Arsenal will also be without Santi Cazorla for their remaining two games as the midfielder recovers from a persistent Achilles injury.