Ancelotti says he will stay at Real Madrid despite City loss and Brazil opening

BARCELONA, Spain: Carlo Ancelotti says he will finish his contract with Real Madrid despite their defeat in the Champions League semifinals and with rumors swirling that Brazil would love the Italian to become its next coach.

“I have a contract until June 2024 and the club has already guaranteed I will see out my contract. Everyone knows that’s exactly what I want to do,” Ancelotti said on Saturday in his first news conference since he spoke immediately after Manchester City routed his Madrid 4-0 this week to reach the final 5-1 on aggregate.

That stinging defeat fueled speculation that perhaps Ancelotti’s second stint at Madrid was near its end. Madrid have won the Copa del Rey, the Club World Cup, and the UEFA Super Cup this season, but it lost the Spanish league title to Barcelona and failed to defend its Champions League crown.

Meanwhile, Brazil are apparently ready to embrace the 63-year-old Ancelotti, the only coach to have won four European Cups after winning it twice with AC Milan and Madrid.

Ancelotti’s contract with Madrid lasts until the end of next season but speculation about his potential departure increased after Brazil said they were interested in hiring him to replace Tite. Brazil have been without a manager since the end of the World Cup, and the Brazilian Football Confederation hinted it was willing to wait until the end of the European season to hire its next coach.

Madrid President Florentino Perez also has no trouble firing coaches who don’t reach the 14-time European champion’s incredibly demanding standard for success. Perez cut Ancelotti’s first stint short in 2015, just a year after he led Madrid to Champions League title No. 10.

Ancelotti said on Friday he has received renewed backing