Both the Brazilian Football Federation (CBF) and Real Madrid have denied the report that Real's incumbent manager Carlo Ancelotti will leave the Estadio Santiago Bernabeu this summer to take over the Brazilian national team.

"The Brazilian Football Confederation (CBF) states that the news released this Friday that the coach of Real Madrid, the Italian Carlo Ancelotti, is the new coach of the Brazil national team is unfounded," the CBF said in a statement.

"President Ednaldo Rodrigues stands by the statements given on Wednesday, after the draw for the matches in the Copa do Brasil. At the time, the president ruled out speculation, saying that the matter will be dealt with transparently and that the coach chosen will be announced at the right time," the federation added.

"No, I'm not aware of these things," Ancelotti said when asked about him managing Brazil. "The situation is quite clear. I have a contract until 2024."

Brazil performed poorly in the FIFA World Cup in Qatar last year as they were knocked out by Croatia over penalties in the quarterfinals. The team hasn't reached the World Cup final since 2002. Manager Tite stepped down after Qatar.

Brazil understandably want to find a successful, experienced manager to be in charge of the "Canarinha." Ancelotti, who has won a great number of championships in a series of powerhouses including AC Milan, Chelsea, Bayern Munich and Real Madrid in the past 28 years, makes a good candidate for the CBF.

ESPN previously reported that Ancelotti agreed to manage Brazil after the 2022-23 season, but both the CBF and the manager himself denied it.

Real will play Al Hilal of the Saudi Professional League in the FIFA Club World Cup final on Saturday. Ancelotti believes that, if Real win, it can be a "boost for the rest of the season."

"It's an important moment at this stage of the season," he said. "When you get to February or March, it's the decisive moment of the season and we're here as always. We're looking good, and we start with a Club World Cup final."