Zenit St Petersburg have denied reports that Carlo Ancelotti has agreed a deal in principle to coach the Russian champions next season.
Ancelotti, 56, has been without a club since being fired by Real Madrid in May and said in November that he would be open to coaching in the Premier League, recently suggesting Manchester United as a potential destination.
Russian daily Izvestia reported on Friday that Ancelotti agreed a contract worth €16 million a year -- a wage second only in the world to Jose Mourinho's €18m at Chelsea, according to AS -- to take over from Andre Villas-Boas once the former Chelsea and Tottenham manager steps down from Zenit at the end of the season.
Another Russian daily Sovetsky Sport reported on Friday that Izvestiya's story was not true, before a Zenit spokesperson told news agency TASS: "All talks about Ancelotti agreeing to coach Zenit have nothing to do with reality. The club doesn't have any negotiations with the Italian coach."
Meanwhile, AS reports that Bayern Munich would be keen to acquire Ancelotti should Pep Guardiola decide against extending his contract with the Bundesliga champions beyond its expiry next summer.
Ancelotti won two European Cups as a player with AC Milan before lifting it twice again with the Rossoneri as their manager, and once more with Real Madrid.
The Italian led Madrid to La Decima -- their 10th European Cup -- in 2014 before being sacked a season later as Clasico rivals Barcelona won the Treble.
Madrid star Cristiano Ronaldo said on Friday that he misses Ancelotti and would love to play under the coach again during his career.
Portuguese coach Villas-Boas -- who has guided the Russian champions through to the last 16 of the Champions League -- confirmed in September that the 2015-16 season would be his last at Zenit.