The Chile international has struggled to replicate his stunning debut campaign in north London after suffering a lay-off through injury mid-way through the Premier League campaign.
The 27-year-old has scored 13 times in all competitions for the Gunners this term - some way short of the 25 goals he netted in his first season in English football.
Former Real Madrid, Chelsea and Paris Saint-Germain head coach Ancelotti will take over from the departing Pep Guardiola in June due to the Spaniard’s impending move to Manchester City. Ahead of his arrival at the Allianz Arena, Ancelotti is reportedly prepared to offer a deal worth €40million for the Arsenal forward.
According to AS Chile, the Italian boss is concerned about the longevity of wingers Arjen Robben and Franck Ribery due to both fleet-footed wide players crossing the 30 year mark.