Arsenal boss Arsene Wenger is set for talks with Paris Saint Germain over taking the manager's job in the summer, with Carlo Ancelotti reportedly ready to leave at the end of the season.
PSG have been linked with Wenger for quite a while now, and even though the Frenchman has denied any suggestions of a move, Le Parisien claim the Arsenal boss is ready to consider his options and will talk with PSG president Nasser Al-Khelaifi during the week of May 6.
Ancelotti has been heavily linked with a move to Real Madrid in the summer, with reportedly Jose Mourinho set to leave the Spanish giants. Chelsea are the favorites to land the Portuguese manager, with some reports suggesting a deal is already in place.
According to the report in Le Parisien, Ancelotti told Al-Khelaifi in a meeting on Wednesday that he would now be continuing at PSG, despite his contract naturally extending to another year, if his team finishes in the top three. PSG are currently leading the table, and are expected to clinch the Ligue 1 title.
Ancelotti, however, denied the reports, saying he would take a decision only at the end of the season. "I haven't yet taken a decision," Ancelotti told the same paper. "I'm waiting until the end of the championship."
If Ancelotti does leave PSG, though, it would allow the French powerhouses to pursue Wenger more vehemently. However, the Arsenal manager never breaks contracts, and has repeatedly said he will honor his current deal with Arsenal, which runs until 2014.
The talks could also be for Wenger to take over at PSG in either a coaching role or at the boardroom level once his contract with Arsenal expires at the end of next season.
There have been rumors that Arsenal have lined up Joachim Low as Wenger's replacement, should the Frenchman decide to leave the club he has been with since 1996.
Low's contract with the German national team ends after the 2014 World Cup in Brazil, although the German FA have said they would like to extend the deal further.
Borussia Dortmund coach Jurgen Klopp is also an option being considered, but the charismatic boss is reportedly quite settled in his current job, after reportedly turning down an offer from Chelsea to take over from next season.
Klopp would be the ideal candidate to replace Wenger, as the Dortmund boss also manages his club on a strict budget, something that is now synonymous with Arsenal.
However, having said that, the most likely scenario is Wenger continuing at the Emirates beyond 2014, as he looks to bring back the glory days to Arsenal.
The Arsenal boss reportedly has quite a bit of money to spend in the summer transfer window, and is determined to garner the club's first trophy in over eight years next season.