The England defednder has been linked with a move to Spanish giants Real Madrid where he could link up with former Chelsea boss Jose Mourinho.
“I read that Ashley Cole wants to leave,” said Ancelotti.
“My answer was I want Ashley Cole to stay at Chelsea because he’s a fantastic player and there is no price for which (I would) sell him.”
He added: “Joe Cole was a financial problem – it was not a technical problem.
“They didn’t achieve an agreement with the club about his salary. This is not the problem of Ashley Cole.
“Ashley Cole has a contract – I don’t know how long is his contract – and you want to respect this.”
