Ancelotti spent two seasons at Stamford Bridge, winning the Premier League and FA Cup in his first year before a barren following campaign saw him sacked by Roman Abramovich.
The Italian is currently out of football after being sacked by Bayern Munich and is already assessing his options, though will not be able to join a new club until the end of the season.
Chelsea has been touted as a possible destination in light of speculation over Conte’s happiness in west London, but Ancelotti asked not to be linked after Conte expressed frustration at the weekend.
“I have time to watch football now,” he told Radio Anch’io lo Sport. “I am looking for new opportunities but not right now. My contract with Bayern expires at the end of the season and that’s when I’ll start listening to new offers.
“I want a serious project that can give me time and serenity, even though I know it’s not easy. I am just waiting and something will come.
“The Premier League is a very interesting league of course. The atmosphere is amazing there, even if Bundesliga stadiums are also great.
(Arsenal FC via Getty Images)
“Every day there are new speculations about my future – Croatia, China, Everton, Chelsea. Don’t make my friend Antonio upset, I always talk to him.
“Serie A is very interesting. AC Milan have made many changes and fourth place would be a great target, but it won’t be easy. I’d see myself coaching Roma but don’t tell [Eusebio] Di Francesco.
“The truth is, I’d like any club, I’d like to coach and I will listen to offers at the end of the season.”