Carlo Ancelotti in talks over Italy job with Arsenal and Chelsea looking elsewhere for new coaches

Carlo Ancelotti is in talks with the Italian FA (FIGC) over taking over as the new national team coach.

The highly-decorated veteran coach had been linked with some of this summer's biggest available club roles, including the vacancy at former club Chelsea and at Arsenal, where Arsene Wenger on Friday announced his departure.

But concrete interest failed to materialise from either London club, who are both eyeing a younger, long-term appointment. Ancelotti has been an immensely successful coach in short bursts since ending his eight-year reign at AC Milan in 2009 - winning league titles in Germany, France and England as well as the Champions League, Uefa Super Cup, Club World Cup and a litter of other domestic trophies - but as yet has not tasted international management.

With a rebuild on the way after Gian Piero Ventura's side failed to qualify for this summer's World Cup, Ancelotti would be committing to a long-term project but one that would allow him to return to his homeland and take on a reduced workload when compared with the requirements of modern club management.

The former Italy midfielder is 58 years old and would be a popular choice in Italy as a respected coach to help get things back on track. He already boasts the equivalent of an Italian knighthood, the Ordine della Stella della Solidarietà Italiana, awarded for promoting national prestige overseas.

Following nearly a decade of doing just that across Europe, Carletto may be about to return home.