The former Udinese star - who boasts an impressive record of 28 goals in 57 Serie A appearances - is currently on the comeback trail after sustaining a knee problem in October.
The 30-year-old had leapfrogged both David Trezeguet and Amauri in Ciro Ferrara's pecking order prior to his injury, and many feel that his absence has played a significant role in Juve's inconsistent form since.
Ancelotti is said to be keeping a close eye on Iaquinta's fitness, so as to decide whether it would be worth making a move for the Italy regular before the end of the month.
The Blues are reportedly planning to open the bidding with an £8 million offer, should they proceed.
Hosted by Stephen Crawford & Adam Scime
Meanwhile, Tonde Chitonho has asked Thierry Henry to take Arsene Wenger back to the US with him!
And on the subject of Henry, Rizky Ferdiansyah humorously added: “King Henry couldn't beat the Prince Boateng!”
Joel Peeperkoorn feels that Arsenal should rest their big guns in the second leg, saying: “There's no way we can beat Milan by five goals."
Jez Cook, however, takes a different perspective, singing himself back to positivity: “FIVE FOUR we're gunna win five four we're gunna win five four we're gunna win five four ....FIVE FOUR we're gunna win five four we're gunna win five four we're gunna win five four ...FIVE FOUR - just keep repeating it.”
Well, you have to admire his fighting spirit...
Incidentally, no team has ever progressed in Europe after losing the first leg by such a heavy deficit.
Champions League Player Ratings: AC Milan 4-0 Arsenal
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Champions League Player Ratings: AC Milan 4-0 Arsenal
Goals from Kevin-Prince Boateng, Robinho and Zlatan Ibrahimovic handed the Italian side a victory that all but seals their progression to the next round of the competition
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Champions League Player Ratings: Zenit 3-2 Benfica
Goal.com casts a studious eye over the performers at the Petrovsky Stadium as a late goal settles a thriller in the Russian's favour and sets up enthralling second leg
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Serie A Player Ratings: Parma 0-0 Juventus
The Bianconeri missed a great chance to go back to the top of Serie A, but they caused the home side plenty of problems thanks mainly to Andrea Pirlo
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Messi breaks Champions League knockout record
The Argentine, still only 24, is level with current record holders Raul and Andriy Shevchenko, but can surpass the two European greats with a solitary strike at Leverkusen tonight
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Should 'Vanishing Spray' be introduced globally?
The spray, which has been designed to stop defensive walls from encroaching closer than 10 yards to the ball at free-kicks, is set to be discussed at next month's IFAB meeting
