Chelsea are facing a 18-month transfer ban and are determined to keep key members of the squad.
John Terry, Ashley Cole, Didier Drogba, Alex, Salomon Kalou and Michael Mancienne have all signed new deals with the club this season.
Ancelotti said: “We want to keep Joe Cole because he’s in the same situation as Alex and Kalou.
“They signed new contracts because they are good young players and we want to keep them in our squad.
“We want to maintain the squad because that will ensure it stays very competitive. We need these players for the future.
“They are young but are also experienced because they have played a lot of important games.
“The fact Alex and Kalou want to stay is a good sign for the club.
“Our aim is to maintain the squad and maybe change one or two players at the end of the season.”
