Carlo Ancelotti has said Real Madrid will be the last club of his coaching career, adding that he believes Vinícius Júnior deserves to win the Ballon d'Or.
The Italian manager has a contract with Madrid until June 2026, which will keep him at the Bernabéu past his 67th birthday.
"I think this will be my last club," Ancelotti told told the Obi One Podcast.
"If there is an opportunity for a national team, I don't know. I'm not so excited at coaching a national team because I would lose what I like most, the day-to-day. I really enjoy what I'm doing.
"This is my season number 29 as a coach. It's true that I have won a lot but imagine the number of titles I lost."
Ancelotti has managed some of the biggest clubs in the world, winning league titles, domestic cups and European honours during spells with AC Milan, Chelsea, Paris Saint-Germain, Bayern Munich and Madrid.
Ancelotti, who returned to the Bernabéu in 2021 for his second spell in charge, won LaLiga, the Champions League and the Spanish Super Cup last season.
In winning the Champions League, Ancelotti extended his record as the most successful coach in the continental competition's history with five titles.
Brazil star Vinícius played a key role in Madrid winning the European trophy for a record 15th time.
Ancelotti believes Vinícius, who scored six goals and set up five more in 10 Champions League appearances, should be the favourite to win the prestigious Ballon d'Or.
"I think Vinícius is going to win because he is a talented player and he did really well last season," he said.
"It's true that [Real Madrid defender Dani] Carvajal did very well too. Carvajal won the league, the Champions League, scoring in the final, and won the European Championship [with Spain].
"But Vinícius is young, talented, he has a good image ... He won the league and won the Champions League, scoring twice in the semifinal and scoring in the final.
"Jude [Bellingham] also had a fantastic season. He was a big surprise. The best player in the [domestic] league."
Madrid have strengthened their attack this summer with the arrival of Endrick and Kylian Mbappé.
"We have built a fantastic squad," Ancelotti said. "When Cristiano Ronaldo left in 2018, year after year we were able to bring in fantastic young players.
"Vinícius, Rodrygo and [Fede] Valverde, then [Eduardo] Camavinga, [Aurélien] Tchouaméni, Bellingham, Arda Güler and now Kylian Mbappé.
"We have a fantastic squad, with fantastic young talent. But the key point is the spirit that the veterans are able to keep in the squad, like Carvajal ... This connection was really good to have success in the last few years."
Ancelotti does not anticipate Mbappé, who joined Los Blancos as a free agent after his contract with PSG expired, having any issues adapting to the squad.
"I think it will not be a problem," he said. "The key point is that every player has to put his talent at the service of the team and the teammates. For Kylian Mbappé it will be exactly the same."