Carlo Ancelotti has turned down the chance to return to AC Milan, telling the club he needs rest after two years at Real Madrid.
Milan vice-president Adriano Galliani revealed last week the Rossoneri had reached out to the 55-year-old about a possible return to the San Siro after his Madrid spell came to an end.
But Ancelotti revealed on Twitter on Tuesday evening that he had declined the opportunity.
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"Thanks to @acmilan for their support interest. It was hard to say no to such beloved club to me but I need some rest. I wish them the best," he wrote.
Ancelotti parted company with Real Madrid last Monday after a trophyless season and declared that he would take a year off from coaching.
Milan sought to persuade him otherwise, with Galliani saying last week he felt there was a 50/50 chance of Ancelotti returning.
Ancelotti is one the most successful coaches in Milan’s history, having led the Rossoneri to the Serie A title in 2004 and two Champions League crowns before he left in 2009 to join Chelsea after eight years in the job.
Ancelotti, who led Real to a 10th European Cup title in June 2014 but failed to win the league in his two seasons in Madrid, is planning to have back surgery in Canada this summer.
The Rossoneri missed out on European football as they limped to 10th place in Serie A under first-year coach Filippo Inzaghi.
Inzaghi, the former AC Milan forward, is contracted to Milan until June 2016.