The former Real Madrid assistant coach was sacked as Botafogo trainer after a run of poor results.
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However, Ancelotti's reputation remains intact, with enquiries arriving from across the globe.
AS says Fiorentina and Real Sociedad in Europe, along with Atlético Nacional and Club América in South America, are options for the Italian.
In Brazil, it's also been suggested Ancelotti is an option to replace Xabi Alonso should he be axed by Real Madrid.