Carlo Ancelotti has made it clear that he will not return to management until next season.
The 56-year-old has been out of work ever since he got the sack at Real Madrid at the end of the 2014-15 campaign and has been linked with Liverpool in recent weeks.
Nevertheless, the Italian has stressed that he is enjoying his time off for now and will not return to the bench until 2016 as Jurgen Klopp closes in on the Anfield hotseat.
"I am enjoying my time off now," Ancelotti was quoted as saying by Associated Press.
"But of course, I want to come back to coach a club again. It is my passion, so I want to return to work.
"I intend to take my time to rest, but I will be ready to make my comeback next season."
Ancelotti started his managerial career with Reggiana and was also in charge of Parma, Juventus, AC Milan, Chelsea and Paris Saint-Germain before taking over at Madrid in 2013.
He has won the Champions League on three occasions during his career, twice with Milan and once with Madrid.
‘I don’t think Liverpool would look at Ollie Watkins, a striker isn’t a pressing issue for them – it’s Arsenal who need one’ Former Reds star explains why his old club don’t need an out-and-out forward this summer
‘He’ll still be playing at 40 at a good level because he’s in such good shape and looks after himself so well. He does everything to be a top professional’: Ex-Liverpool coach insists Mohamed Salah has plenty more miles in the tank
