Italian super agent Vincenzo Morabito kicked off a day of speculation by admitting that Ancelotti was top of Florentino Perez's coaching candidates as he prepares to challenge for the Real Madrid presidency.
Later, Milan assistant coach Mauro Tassotti added fuel to the fire when saying he didn't know if he and Carletto would be around next season.
He said: "What we are experiencing is a very strange, very difficult to interpret. Let's see what happens between now and the end of championship. Meanwhile, we must think about gaining Champions League qualification."
And last night, when asked about his situation, Ancelotti said: "Anything is possible ..."