Chelsea plan to replace Cole with £10million-rated American star Landon Donovan.
With Portuguese ace Deco set to join Cole through the Stamford Bridge exit door this summer, Ancelotti has earmarked Donovan as an ideal replacement.
Ancelotti has been so impressed with the Los Angeles Galaxy forward during his loan spell with Everton, that he has asked club chiefs to open talks with Major League Soccer chiefs about a permanent transfer.
Success
Donovan, 28, is due to return to LA for the start of the MLS season after today's Premier League clash with Hull - although Everton boss David Moyes hopes to extend the loan deal.
But Moyes knows Everton cannot afford to sign the player on a permanent basis.
Donovan's spell at Goodison Park has been such a success that the player is said to be tempted by the prospect of a permanent move to the Premier League.
And Ancelotti believes Donovan would fit perfectly into a front three with Didier Drogba and Nicolas Anelka.
Like all MLS players, Donovan's registration rests with the League rather than his club and Chelsea would have to negotiate with them.
This post has been edited by Hounddog on 9 Mar 2010, 11:45 
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Chelsea Football Club, Keep The Blue Flag Flying High
