The 49-year-old left the Rossoneri after over seven years in charge following a 2-0 win at Fiorentina this afternoon which secured third in Serie A and a place in the group stages of the Champions League.

Ancelotti, who twice made Milan European champions, is now set to be named as Guus Hiddink's replacement at Stamford Bridge for next season even if he insists his next posting has not been confirmed.

When asked by PA Sport whether he had met with any representative of Chelsea over the last few weeks, Ancelotti said "no", adding that "today is not the day for that".

He added: "I have had eight great years here and I want to thank everybody who has been with me over these years.

"That is all I can say today."

Ancelotti continued to claim his next move was not decided but ruled out staying in Serie A.

"I am certainly not staying in Italy," he added. "But it is not certain that I am going to London for sure either."

Wherever he does go - and the chances of the man who has won two Champions League titles, one Scudetto, two European Supercups and the World Club Cup remaining unemployed for the next season remain remote - he would like to take Kaka with him.

But he admitted the Brazilian was unlikely to follow.

"There is one player I would like to take, but I cannot take him with me," he said.

And if his destination is Chelsea, he will find a team in buoyant mood after winning the FA Cup, and Ancelotti took his hat off to the man he would replace in London.

"Hiddink is one of the coaches I respect the most and I am happy that he did a great job with Chelsea," he said.

Ancelotti explained how the decision to part company was made when general manager Adriano Galliani met him in the dressing room after the match.

"We agreed not to continue," said a relieved looking Ancelotti. "It was a decision made with the maximum serenity and respect.

"For the club and for me it was right to change and there was no bitterness or disappointment.

"Today I was happy because Milan have made it into the Champions League and I want to thank everybody who has followed me along this beautiful path.

"Obviously there were some difficulties along the way, but it will always be a great memory.

"Our roads may be separating, but I will remain a friend with everybody here."

No sooner had Ancelotti saluted the media at Florence's Stadio Artemio Franchi when Galliani confirmed that his place in the Milan hotseat will be taken by coaching rookie Leonardo next season.

"Leonardo is our new coach and he will be presented at the San Siro tomorrow at 12pm," he said before confirming that he and Ancelotti will remain on good terms.

"We had reached our minimum aim for the season and we decided to bring our working relationship to an end one year early.

"The decision was met in a friendly manner."