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The Madrid coach believes Diego Simeone's men were simply too strong for the Blues and expects the final later this month to be a close affair

Real Madrid coach Carlo Ancelotti says Atletico Madrid deservedly beat Chelsea in the Champions League semi-finals and is anticipating a closely-fought encounter against their city rivals in the final at the end of the month.

Madrid secured their spot in the final with a 5-0 aggregate victory over holders Bayern Munich, while La Liga leaders Atleti duly followed suit by defeating Chelsea 3-1 over two legs and Ancelotti expects a tight encounter on May 24. 

"Everyone in Madrid is happy and there are no favourites for the final," he told Sky Italia.

"Atletico deserve to be there, they were simply better [than Chelsea].

"Anyone who has been to a final knows there are no favourites. It will be a close game."

Ancelotti also insisted that he is relishing the prospect of a derby encounter, and is looking forward to the challenge of ending Madrid's long wait for Champions League success.

"I'm excited. I live in a world where you get to enjoy these positive moments. It's a great success getting to the Champions League final with Madrid after 12 years.

"I feel good. It's important because it allows you to see things in the right way. I don't have personal ambitions. I'm working at a club that's perhaps the biggest in the world."