The 49-year-old continues to be linked with a move away from the San Siro this summer, with the Rossoneri having failed to qualify for the Champions League last season, and unlikely to catch city rivals Inter at the top of the Serie A table in 2008/09.
Ancelotti's end-of-season destination is likely to be Stamford Bridge - according to reports - following the sacking of Luiz Felipe Scolari in February, with temporary coach Guus Hiddink insisting he will not extend his deal beyond May.
However, the Italian could now be pitching up at any one of a number of high-profile clubs - including Manchester City who bowed out of the UEFA Cup at the quarter-final stage on Thursday night - following comments from his agent, Enzo Bronzetti.
“Ancelotti is the most sought-after coach in football,” he said in the Daily Mail.
“He is wanted by Real Madrid, Chelsea, Manchester City, Bayern Munich and Roma.
“There is a great fondness between Ancelotti and [Milan vice-president Adriano] Galliani. Because of this, they will only decide what to do at the end of May.”
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