Carlo Ancelotti has been told he will hold onto his job as AC Milan coach if the club finishes as high as third place.

The longest-serving manager in Serie A has been under pressure following defeats which have dropped the Rossoneri to 12 points behind leaders and three-time defending champions Inter Milan.

Ancelotti held onto his job at the end of last season, despite the club failing to achieve a fourth-place finish that was needed to qualify for the Champions League.

"Ancelotti will remain if the club finishes third," said AC Milan club administrator Adriano Galliani.

Ancelotti is under contract with the Rossoneri until June 2010 and claimed earlier this year he had turned down a move to Chelsea last summer.

Pressure has increased on the 49-year-old tactician after Milan were knocked out of the UEFA Cup last week at the hands of Werder Bremen in what was their only realistic hope silverware this season.

Milan, who were eliminated from the Coppa Italia earlier this year, have won just one game in their last four league encounters.

(re-opens) Ancelotti insists he is not worried about his future.

"Regarding my future it is obvious that if Milan do not reach our objective of third place something could change, even for me," he said.

"But I am convinced that we will be third and that, therefore, there will not be any problems."