The ex-Bayern Munich boss was sacked by the Bundesliga giants this week after a poor start to the season, and he is ready to have a rest from the game.
However, the only club the Italian would be happy to take over this season would be the North London club, reports Football Italia.
The 58-year-old has been linked with both Milan clubs, but Mediaset Premium claim he will not return to a club in his homeland until 2020.
Bayern chief Uli Hoeness has claimed it was not just a run of poor performances that led to the former Chelsea boss’ demise.
“There were five players against Ancelotti. It was impossible to get out of that.” He told Westfalenpost.
Club legend Willy Sagnol will replace sacked Ancelotti on an interim basis until the end of the season.
He is expected to take control until the end of the current season, with 30-year-old Hoffenheim manager Julian Nagelsmann on the club’s radar for next year.
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