During an appearance on Rai Radio 1, Ancelotti addressed the rumours, maintaining his commitment to Real Madrid but leaving the door ajar to future possibilities.
"Claudio Ranieri is a friend and he's doing very well at Roma, I'm very happy and attached to the Giallorossi club, I haven't forgotten the years I spent there as a kid," he said.
“But there's a world of difference between saying and doing and I'm happy here and I absolutely don't want to think about my future."
However, he added: "The circle never closes in Madrid, when you win a title you always think about the next one to win. And that's a good thing, this keeps me motivated. I like coaching every day, it's something I haven't considered yet. I don't know if Real Madrid will be my last team as a coach. I have a two-year contract. You never know how long you stay… contracts can be broken but can also be extended!”