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Reports claimed that a big money offer had already been put to Carlo Ancelotti from a Chinese Super League club less than 24 hours after he was dismissed by Bayern Munich.
The Italian parted ways with Bundesliga giants on Thursday, one day after the heavy defeat against PSG in UEFA Champions League.
Earlier this month, former Bayern Munich midfielder Mario Basler revealed that Ancelotti had been tipped to make a shock move to the Chinese Super League in January.
However, the 58-year-old has denied the claim that he had a pre-contract agreement in place with a CSL club.