Ancelotti set to become Brazil's new coach: Report
However, according to a recent report by ESPN Brazil, Ancelotti has "said yes" to Brazil and will take over at Real Madrid following the current season.

ESPN Brazil reports that Carlo Ancelotti, the manager of Real Madrid, has verbally accepted the position of head coach of Brazil.
Ancelotti, 63, has a contract with Los Blancos that runs through June 2024, and he has often refuted rumors that he will take charge of the Selecao.
However, according to a recent report by ESPN Brazil, Ancelotti has "said yes" to Brazil and will take over at Real Madrid following the current season.
Despite leading the team to victories in the UEFA Champions League and LaLiga last season, the Italian has faced pressure in Madrid after dropping eight points behind FC Barcelona on the log.
It is believed that Ancelotti verbally agreed to a three-year contract to serve as Brazil's manager until after the 2026 FIFA World Cup in the United States, but he has not yet signed anything in writing.
Vinicus Jr., Eder Militao, and Rodrygo, three Brazilian players for Real, have already been told of the choice.
He once more denied the chatter when questioned about the rumors at the FIFA Club World Cup.
After guiding his team to the FIFA Club World Cup final, where they will play Al Hilal on Saturday after overcoming Al Ahly 4-1 in the semifinals, he may add more trophies to his successful career.
Ancelotti would win his third Club World Cup championship after triumphing with AC Milan in 2007 and Real Madrid in 2014.
Brazil, though, is said to be interested in hiring a well-known coach following recent disappointments with local ones.