Carlo Ancelotti says he would like to coach Real Madrid again but does not plan to return to management until next summer.
Ancelotti, 56, was dismissed as Real boss at the end of last season but there have been calls for him to return after Rafa Benitez's side were beaten 4-0 at home by Barcelona on Saturday.
The Italian has also been linked with returns to Chelsea and Paris Saint-Germain but, while he is open to a return to any of those clubs, he repeated that he is determined to take a one-year sabbatical.
"I would go back to Real, just like I would go back to Paris Saint-Germain or Chelsea," he told Italy's RAI radio. "I had some fantastic experiences abroad, but when I left Madrid I decided to take a year off and that is how it is.
"Some clubs have already made enquiries and I told them all the same thing: that I want to start again from next year. I've taken on three jobs during a season, with Juve, Milan and PSG, and they all turned out to be negative."
Ancelotti has backed Benitez to turn things around at the Bernabeu.
"It's still early days and I think his players have the quality and ability to resolve such a situation, which is very complicated," Ancelotti said. "It was a nightmare for all the Real fans, who saw an extremely strong Barcelona side make their Real suffer.
"It's difficult to judge from the outside how things are within the dressing room. They suffered tactically, trying to press high up the field against a side who were comfortable just controlling the ball and this is what made the difference.
"Each coach has his own ideas, though. I was accused of picking the team that [Milan president Silvio] Berlusconi wanted for years, and even in Madrid I was accused of naming the team according to the president's desires.
"Benitez has his own ideas and he puts these into action on the field, and it's always best to sink using your own ideas than those of somebody else."
Ancelotti also played down speculation that Cristiano Ronaldo's relationship with Benitez may have reached the point of no return.
"I spoke at length with Ronaldo, but he never said that he didn't have a good relationship with Benitez," he said.