It was reported during the Qatar World Cup that Bellingham was keen to join Real Madrid next summer, having been strongly linked with a move to the Bernabeu.
Premier League giants Man United, Liverpool, Chelsea and Man City have also expressed interest in signing Bellingham, who is valued at around £120m by Borussia Dortmund.
Bellingham has quickly developed into one of the best players in Europe and starred in England’s run to the World Cup quarter-finals in Qatar.
Real Madrid boss Ancelotti is an admirer of Bellingham but has played down talk of the 19-year-old joining the club by insisting he will ‘stick with what he’s got’.
Asked about some of the hottest prospects coming through in Europe, Ancelotti said at a pre-match press conference: ‘There are a lot of youngsters, like Enzo [Fernandez], and a lot of midfielders who are coming through, some of them Spanish.
‘Jude Bellingham is one of them, but I’ll stick with my midfielders, who are very good, especially the youngsters, like Valverde, Camavinga and Tchouameni. We have a lot of young players.’
Ancelotti’s comments could give Premier League clubs a free shot at Bellingham, although German giants Bayern Munich and French champions Paris Saint-Germain are also believed to be interested in the teenager.
Former England striker Michael Owen recently urged Bellingham to snub Real Madrid in favour of a move to the Premier League.
‘I think he has to come back to the Premier League,’ Owen – who played for Real Madrid – told the Daily Telegraph.
‘He has done very well in Germany and made that decision to leave Birmingham when he was very young so he would get the opportunity to play. Dortmund have a massive asset on their hands.
‘The Premier League is the biggest and best league in the world, it is just a question of which club can afford him? There aren’t many around because he is a special, special talent. He’s going to be one of the best around.’
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