This is according to The Daily Express, who suggest that Ancelotti remains in the managerial running, with the Red Devils willing to wait for a month to get the experienced Italian if he provides any indication that he could be willing to take on the role.
The same source further claim that, while Ancelotti is enjoying a strong campaign at the Santiago Bernabeu, the long-term stability of the Manchester United job could prove appealing given Real Madrid's track record for dispensing of managers.
Following a dreadful 10-month period during which time Manchester United alarmingly regressed from deserved champions to Europa League hopefuls, David Moyes was dismissed from the Old Trafford dugout last week, replaced on an interim basis by the iconic figure of Ryan Giggs.
Whether Giggs himself is in the running for the permanent job remains unclear, but a strong finish to the season - his first game in charge was the resounding 4-0 defeat of Norwich on Saturday evening - will presumably strengthen support for the Welshman among Manchester United fans.
Louis van Gaal has been touted by many as one of the frontrunners to succeed Moyes, with the reputable Dutchman due to stand down as coach of the Netherlands following their World Cup campaign in Brazil this summer.
Like Ancelotti, Van Gaal - who has previously taken charge of Ajax, Barcelona and Bayern Munich, among others - holds a lofty standing in the European game and boasts the experience necessary not to be daunted by the magnitude of the situation at Manchester United.
And while Van Gaal would probably do an adequate job, you have to think that Ancelotti - whose Real Madrid side romped to a truly impressive 4-0 victory over Bayern Munich at the Allianz Arena earlier this week to advance to their first Champions League final in more than a decade - would be the better option if he were indeed to hold an interest in replacing Moyes.