Carlo Ancelotti insists he and son Davide are fully focused on securing an unlikely title win for Real Madrid.
Ancelotti Sr will head for Brazil this summer after four years in terms of the Spanish giants, while Jr is being strongly linked with the managerial vacancy at Rangers.
Bookmakers have shortened odds to as short as 3/10 on for the Madrid assistant to pitch up at Ibrox, with Steven Gerrard next favourite at 9/1.
Some reports in Spain had suggested the Italian coach was definitely the man for Gers and it would be wrapped up soon but sources close to the club played that down and insisted the search was still ongoing, and could take up to another four weeks.
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However, there certainly seems to be a strong possibility the 35-year-old will be picking up the reins after Barry Ferguson's temporary stint in charge.
Los Blancos still have three league matches to play before the manager-and-son duo depart - against Mallorca, Sevilla and Real Sociedad.
They remain seven points behind Barcelona in La Liga meaning signing off with the title is verging on the impossible.
But Ancelotti said: "The CBF issued that statement because I’ll be the coach of Brazil from the 26th. Madrid will issue a statement whenever they want, there is no problem.
"I will be the coach of Brazil, which is a challenge, but until then, I’m the coach of Real Madrid and I want to finish in the best possible way.
"I’m focused on the final stretch of this spectacular adventure."
