Ancelotti denies it's Europe or bust

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The Italian is determined to last longer than the seven-month tenure of previous boss Luiz Felipe Scolari who was sacked in February. But Ancelotti claims the club, led by owner Roman Abramovich, have not suggested that the Champions League should be the main target in the coming season.

"For Chelsea it is important to win the Champions League but it is important to win the Premier League at the same time," said Ancelotti. "We have to do the maximum we can in all competitions."

Ancelotti also spoke of Andriy Shevchenko's future. The player is to return to the club for pre-season training on July 9.

The striker spent last season on loan to AC Milan and looks certain to serve the final year of his contract out at Stamford Bridge.

"Shevchenko is a Chelsea player and I want to speak with him," said Ancelotti.

"Shevchenko will come to London on July 9 and will work with us in pre-season and at this moment we will speak with him to find the right solution for us."

Ancelotti stressed that Chelsea were in no hurry to sign more players, preferring to wait for a chance to get the right player at the right price.

"We keep control of the market and we are not in a hurry," said Ancelotti. "The market closes on August 31 and if there is a good opportunity for us we can do it. If not, we still have a great team."