Chelsea have won just two and lost four of their opening eight Barclays Premier League games and are 16th in the standings.

Speculation that Ancelotti could return to Stamford Bridge was defused by the Italian, who told Italian newspaper Corriere della Sera: “Mourinho will continue to do his job. I don’t think Chelsea want a change.

“In any case my idea continues to be to remain away for a year.”

Ancelotti led Chelsea to the Premier League and FA Cup double in 2010 before being sacked in 2011.

The 56-year-old was interesting Liverpool at the start of this week, but the Reds appear close to hiring their first choice, Jurgen Klopp, as a replacement for the sacked Brendan Rodgers.

Ancelotti has been in London this week to receive an award for his coaching career at the Aspire Academy.

Sacked by Real Madrid in May, his plan has always been to take a one-year sabbatical before returning to the game.

He turned down an offer to coach AC Milan for a second time during the summer, after being approached by the club following the sacking of Filippo Inzaghi.

“After two years at Real, I was without energy,” Ancelotti said. “Real is very consuming.

“Had it been another time, I would have returned (to AC Milan).”

Ancelotti cited his health as the reason for taking a year out of the game.

“After my cervical stenosis operation, I am enjoying my holidays,” he said. “I am rediscovering the pleasures of being a normal person.

“You live better without pressure.”

Reports in Italy claimed Ancelotti would replace Antonio Conte as Italy coach after Euro 2016.

Ancelotti is interested in guiding his national team one day but not just yet.

“It’s still not the time (to guide Italy),” he said. “What I do know is that when I return I will coach a club.”