Manchester United offered Carlo Ancelotti the chance to become the highest paid manager in the world last week, reports El Confidencial.
The Spanish newspaper, which enjoys close connections with Real Madrid, claims that Manchester United officials contacted Ancelotti last week to offer him €18m-a-year to move to Old Trafford.
The wage would have seen the Italian become the highest paid manager in the world, eclipsing Bayern Munich boss Pep Guardiola, who earns a reported €17m-a-year at the Allianz Arena.
However, Ancelotti rejected the offer from Manchester United because he is happy at the Bernabeu and is only one-year into a long-term commitment. Ancelotti is close to delivering the infamous La Decima and has enjoyed a level of respect from the Bernabeu crowd that few do.
The respect he has gathered amongst fans and players gave Ancelotti little choice but to reject the advances of the Red Devils, who subsequently moved on to Louis van Gaal.
According to the Spanish paper, Ancelotti also rejected the advances of Manchester United in the summer. Sir Alex Ferguson told Old Trafford officials that his first choice to replace him was Ancelotti but the lure of the Bernabeu proved greater.
Ferguson eventually chose to hire David Moyes, who, as we all know, failed to make an impact in a disastrous 11-month spell. Determined as ever, Manchester United returned to Ancelotti with a stunning contract offer, but it was too late - Ancelotti is settled in the Spanish capital.
It is now reported that Van Gaal has agreed to take over once Holland's World Cup campaign is over and a deal will be announced shortly after Manchester United's game against Hull City.
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