The Real Madrid coach was asked about the possibility of returning at Milan in the near future.
The Italian manager is on the course of winning the La Liga title with Real Madrid in his second stint as a manager.
He could become the first coach to win all of Europe’s top-five leagues.
He was asked on Milan’s title race hopes this season.
“Milan have a chance, as do Inter and Napoli. I think it will be a battle until the last minute of the last game. It’s a very balanced race. There will still be surprise results. Real Madrid have the history, tradition and quality to compete until the end.
“Now we have a tough challenge against City. We will play our cards. It was also tough against Paris and Chelsea. The new away goal rule, which is no longer double, makes these challenges more balanced and exciting.”
On the possibility of joining Real Madrid in the near future, Ancelotti said: “I’ll talk about my future when I finish at Real. If I stop in 20 years I think I’ll retire. Milan have given me a lot.
“Me, a wise Milan advisor? There’s Maldini who’s doing a great job.”