For a competition that expends a lot of energy proclaiming itself the best in the world, the Barclays Premier League is still in thrall to the allure of Serie A. Marcello Lippi was mentioned as a possible England manager before the FA appointed Fabio Capello, and Roberto Mancini was a contender to replace Avram Grant at Chelsea before the club decided to pursue Carlo Ancelotti.

But while another Italian coach, Luciano Spalletti, of AS Roma, cannot be ruled out just yet, Ancelotti has apparently spurned Chelsea’s advances, and Mancini is said to be out of the running. Foreign players may be arriving in their hundreds to milk the Premier League cash cow, but the stars of Serie A seem content to stay at home — for them, it seems, richest does not automatically equate to greatest.

Such, apparently, is Ancelotti’s attitude, for they do not come wealthier than Chelsea. There is a degree of snobbery in the way that Europe’s traditional royalty view Chelsea, as new-money upstarts to be resisted by clubs with more illustrious histories, their rise constructed artificially by Roman Abramovich’s fortune.

Such a rejection suggests that Chelsea’s avowed intention to become the world’s top club is some way off and it will have provoked angst at Stamford Bridge, a result of both hurt pride and serious inconvenience. Money cannot buy you everything, after all. Chelsea wanted to appoint a successor to Grant, the dismissed first-team coach, sooner rather than later, a hope that is receding and may prove impossible if they now focus on Luiz Felipe Scolari and are forced to wait until Portugal’s interest in Euro 2008 is over.

But after five years at or very near the summit of English football and finishing a missed penalty away from lifting the European Cup last month, Chelsea have the right to believe that they are richly attractive to top managers, not just because they are rich.

Ancelotti, though, is a special case, which made Chelsea’s pursuit of him in some respects surprising. For a man so adept at mastering the demands of European football, he leads a parochial, private life. He has never shown any interest in venturing far from his home, let alone his home country. Born in Reggiolo, about 50 miles east of Milan, he still lives on the farm where he grew up, next door to his father and a 75-minute journey from the club’s training ground.

Such has been his contentment at the San Siro that he does not even have an agent. The suggestion that Milan would be eager to take a lucrative compensation package and dispatch a man who led the team to a disappointing fifth place in the league in 2007-08 has been overplayed, too. While there is clearly a rebuilding job to be done at Milan, Ancelotti’s record has earned him respect that has not been effaced by one bad campaign.

Then there is the language barrier. Capello and Ancelotti, 48, are not thought to be especially close, but if the pair had become London neighbours, the vagaries of irregular verbs might have been as hot a topic as the form of Terry and Lampard because, like Capello when he was appointed, Ancelotti does not speak English.

While Capello proved that a decent standard of fluency can be achieved in six months, time is more precious in club football and at Stamford Bridge the only language they talk is instant results. Despite all this, it is easy to see why Chelsea were attracted to him. They crave the Champions League and Ancelotti has won it twice, and with him would come the chance to fulfil Abramovich’s dream of luring Kaká, Milan’s Brazil forward, to London.

Ancelotti’s Milan are not Barcelona, but they are a blend of pragmatism and prettiness. He also outwitted Sir Alex Ferguson in last year’s Champions League semi-finals and, after playing understudy to United twice in the season just ended, what would Chelsea give for a man who can do that? About £7 million a year, it seems. But Serie A’s longest-serving coach values stability and they cannot offer him that. It looks like he has said no to the soap opera.

Who can Roman turn to now?

Frank Rijkaard

Dutch legend who built a new Barcelona team around Ronaldinho after arriving at the club in 2003. Won two La Liga titles and the Champions League before leaving the Nou Camp last month. Played in the famous Ajax and AC Milan teams of the 1980s and 1990s and has coached Holland and Sparta Rotterdam.

Mark Hughes

In-demand former Manchester United, Barcelona, Bayern Munich, Chelsea and Wales forward, who has quietly made a name for himself as a manager at Blackburn Rovers. Although he has an eye for a bargain — he has signed Roque Santa Cruz, David Bentley and Benni McCarthy — that skill will not be required at Stamford Bridge.

Luciano Spalletti

Looks like an Italian waiter, but the 49-year-old has made a name for himself at AS Roma as an innovative coach, despite suffering a 7-1 thrashing by Manchester United at Old Trafford in the Champions League in April 2007. Spalletti’s team knocked Real Madrid out of the competition last season and finished second in Serie A.

Roberto Mancini

His chances all but disappeared last night, according to Chelsea sources. The former Italy, Sampdoria — and Leicester City — forward became one of Inter Milan’s most successful managers by guiding the club to three Italian titles in a row. Failed in the Champions League and lost his job last week, to be replaced by José Mourinho yesterday.

Luiz Felipe Scolari

No-nonsense, old-school Brazilian, who almost become the England manager until the paparazzi upset his wife. “Big Phil” likes to call the shots and, while managing Portugal last year, he made headlines by throwing a left hook at a Serbia player who was getting on his nerves.

Words by Kaveh Solhekol