Cole had a 20-minute heart-to-heart with Ancelotti at Chelsea's
training ground after reporting back last week.
And the 29-year-old England full-back stressed he feels he needs
to leave the club now and move abroad to link up with former boss
Jose Mourinho in the wake of his marriage break-up with pop star
wife Cheryl and lurid stories about his personal life.
A source close to Chelsea told Sport of the World: "It was a
very amicable meeting, but Ashley made it clear that because of his
personal situation he feels it is in his best interests to leave
the club.
Spanish giants Real have been monitoring Cole's situation
closely and are now poised to launch a £25million bid.
It is understood Real and former Chelsea boss Mourinho has been
very supportive of Cole following Cheryl's divorce announcement,
although there is no suggestion he has made any formal overtures to
the player.
Ancelotti is believed to have been sympathetic to Cole's
position, but does not want him to leave. Our source added: "Ashley
was told that he would have to go and see the chairman, which he
hasn't done yet and he has not handed in a formal transfer
request.
"He knows Ancelotti wants him to stay, but he feels that moving
abroad is the only way he can escape the attention after what
happened with Cheryl and the other stories about his private
life."
Cole has been criticised for not visiting Cheryl, who is
currently recovering from malaria, and has reportedly been very
solemn in training.
Cole is due to play for Chelsea in tonight's friendly against
Frankfurt in Germany.
Cole's agent David Manasseh said: "I have no comment to
make."
The Cole situation could be a first test for Txiki Begiristain,
the former Barcelona football director Chelsea hope to bring to
Stamford Bridge this month.