AC Milan reject Chelsea approach for Ancelotti
"He and another Italian coach were at the top of Chelsea's list." BBC Sport understands the other Italian coach to be Roberto Mancini, who was dismissed by Inter Milan this week despite leading the club to three successive Serie A titles.
In 2007, he signed two-year contract extension to keep him at Milan until 2010.
Galliani added: "The fact that our coach is sought after and esteemed pleases me a lot but Carlo Ancelotti will remain Milan's coach."