The Italian has been continually linked with the Spanish giants recently, and fuelled that speculation when he told a Ligue 1 awards ceremony: “I have asked the club to leave and I am waiting for their answer because I am under contract.”
The club have since indicated that they will not be allowing Ancelotti to break his contract.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.