Carlo Ancelotti is prepared to wait until the summer of 2017 to return to management at a club with a “good project” – opening up the prospect of a move to Manchester United.

The former Chelsea manager, who guided Milan and Real Madrid to a total of three European Cups, says that he is keen to take a new job next summer, with the Premier League his favoured destination. However, the 56-year-old insists he will not rush back into work if the right opportunity does not materialise at the end of this season.

“I will continue to wait,” Ancelotti tells The Independent. “If I don’t find a club with a good project, I can wait. What will I do? Watching games, fishing, all these things. But let us see next summer. I will not take a job in mid-season, but I would like to work again next summer.”

Ancelotti was a leading contender to replace David Moyes at United in 2014, with senior figures at Old Trafford identifying the Italian as a favoured candidate alongside Louis van Gaal. But with Ancelotti securing his Madrid future by winning the Champions League, he remained in Spain to leave the path clear for Van Gaal, who has claimed he will retire when his United contract expires in June 2017.

And while he insists he does not regret remaining at Real in 2014, only to be sacked a year later, Ancelotti admits managing United would be an attraction. “Of course, for every manager, they would all think of managing Manchester United,” Ancelotti says.

Ancelotti: "Next season - I am ready"

“But I have no regrets about staying at Real because I really enjoyed Madrid. I would like to come back in a club with a good project, but, of course, one that is competitive.

Carlo Ancelotti factfile Show all 4 1 /4 Carlo Ancelotti factfile Carlo Ancelotti factfile Tale of the Tape Born: Reggiolo, Italy Age: 56 (10 June 1959) Height: 5ft 10in 2014 Getty Images Carlo Ancelotti factfile Playing career: 1976-79: Parma; 1979-87: Roma; 1987-92: AC Milan Position: Midfieder Parma: 55 apps, 13 goals Roma: 227 (17) AC Milan: 160 (11) Total: 442 (41) Italy 1981-91: 26 (1) Honours: Serie A (83, 88, 92) Coppa Italia (80, 81, 84, 86) European Cup (89, 90) 2015 Getty Images Carlo Ancelotti factfile Managerial career - (part 1/2) 1995-96: Reggiana Matches: 41 Wins: 17 Draws: 14 Losses: 10 Win %: 41.46 Honours: N/A 1996-98: Parma Matches: 87 Wins: 42 Draws: 27 Losses: 18 Win %: 48.28 Honours: N/A 1999-01: Juventus Matches: 114 Wins: 63 Draws: 33 Losses: 18 Win %: 55.26 Honours: N/A 2001-09: AC Milan Matches: 423 Wins: 238 Draws: 101 Losses: 84 Win %: 56.26 Honours: Serie A (04), Champions League (03, 07), Coppa Italia (03) 2003 Getty Images Carlo Ancelotti factfile Managerial career - (part 2/2) 2009-11: Chelsea Matches: 109 Wins: 67 Draws: 20 Losses: 22 Win %: 61.47 Honours: Premier League (10), FA Cup (10) 2011-13: Paris Saint-Germain Matches: 77 Wins: 49 Draws: 19 Losses: 9 Win %: 63.64 Honours: Ligue 1 (13) 2013-15: Real Madrid Matches: 119 Wins: 89 Draws: 14 Losses: 16 Win %: 74.79 Honours: Champions League (14), Copa Del Rey (14) GETTY IMAGES