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Los Blancos failed to stop the impressive Premier League champions from progressing to the ultimate stage.
Carlo Ancelotti has expressed his desire to continue coaching Real Madrid despite a 4-0 loss to Manchester City on Wednesday.
Los Blancos were blown apart by the English champions, who progressed to the final with a 5-1 aggregate win.
The loss means Ancelotti’s stay at the La Liga side will be closely scrutinized, especially because he is linked with a move to become Brazil's national team coach.
But despite the rumours around his future, it is in the public domain that the Italian enjoys the backing of Real Madrid president Florentino Perez.
"Nobody doubts my future, because the president was quite clear 15 days ago," Ancelotti said after what was the joint biggest margin of victory in a single Champions League semi-final match, and Real Madrid's joint biggest defeat in any round of the competition.
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06:38 - 18.05.2023
UCL ‘Highest result of my career’ – Guardiola gloats after Manchester City blow Real Madrid apart
City outclassed the reigning champions to set a date with Inter Milan in the final.
Separately, former Real Madrid manager Fabio Capello urged his countryman to consider the Brazilian job.
"It's a very heavy scoreline for Real Madrid," Capello told Sky Sport Italia after his former side was beaten by Pep Guardiola’s City.
"Now maybe he’s thinking about that offer from Brazil, which perhaps in this moment should be taken into consideration because today there are stronger teams around [than Madrid]. If he wants to retire with a success like the World Cup, this is his chance."
Ancelotti downplayed the heavy defeat they suffered at the Etihad and stressed that they have done well this season.
"We haven't done what was planned [against City], but we don't have to make it into a drama," he said.
"We haven't had the ability to reach the final. This season we've done very well, and we'll do better next season."
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21:57 - 17.05.2023
Manchester City embarrass Real Madrid to book second final in history
Manchester City brush aside Real Madrid to advance to the Champions League final for the second time under Pep Guardiola.
Meanwhile, Guardiola became the third manager to win 100 Champions League matches after Ancelotti himself at 107 and Alex Ferguson at 102.
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