"I have asked the club to leave and I am waiting for their answer because I am under contract," Ancelotti said at the Ligue 1 awards ceremony after being named coach of the season along with Saint-Etienne's Christophe Galtier.
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"We've had discussions, he asked to leave for Real Madrid. I said that it's not possible because he has one more year on his contract," president Nasser al-Khelaifi told Qatar-owned TV channel BeIN Sport.
"We've had a meeting with the president [Nasser al-Khelaifi] and Leonardo," he said.
"We must wait for the answer of the club, who will decide for their future and for me. Real [Madrid] is a possibility but I have one year left in my contract. It's the club who will decide.
"We must decide together because my decision is to leave the club. It is not easy because I've had a good relationship with everyone. It's not the right moment to explain the reason why I want to leave the club and maybe I will never explain it."
Quizzed on the matter after being named the best player of the Ligue 1 season, Paris Saint-Germain striker Zlatan Ibrahimovic said: "I don't want him to leave."
"They [Real] came and I discussed it with them. He's got a contract with us for one more year... for me, he's here next year," Al-Khelaifi said on Monday.
