The Milan hierarchy have not made an official declaration on Kaka's status with the Rossoneri, but Ancelotti spoke for the first time on the issue in his pre-match press conference ahead of Saturday's game against Fiorentina."I believe there is a negotiation ongoing and hence, it's something the club will have to evaluate with the player," he said.
"My hope is that I can coach Kaka for many more years but we have to look at what the club evaluates regarding an offer that has been presented.
"It's normal that regarding the player there is a lot of importance placed for his role that he has at Milan.
"The stories change, you cannot think of the football of 20 years ago, in football great investors are entering and it's normal and right to evaluate it in this way.
"The aims remain the same for the team, with or without Kaka."
The English Premier League club have reportedly made an offer of 120million euros (£107m) for the Brazilian. The 26-year-old is under contract at the San Siro until the end of the 2012-13 campaign, and said this week he wanted to remain with Milan for a very long time.
Real Madrid and Chelsea previously failed with bids to prise the former World and European player of the year from the Rossoneri.
But Milan appear to be weighing up an offer that could be too good to turn down.
Brazil striker Alessandro Pato is hoping team-mate Kaka stays.
"If I was him (Kaka) I wouldn't have any doubts," said Pato to Gazzetta dello Sport. "I would remain at AC Milan.
"He will have to decide with his head and with his heart, think a lot about it and reason. I hope that he will continue to play with me."
Remarks made by the director of Milan Channel Mario Suma that the club was reportedly pondering the world record-breaking offer have left Rossoneri supporters anxious, especially with the club having yet to comment on Kaka's future.
'Hands off Kaka,' read a message that had been scribbled on the pavement just outside the club's headquarters in Via Turati, Milan.
Kaka expressed his hope that he would "grow old" at the club in an interview on Wednesday but also conceded that "I reiterate what I have always said, they can make the offer they want but it will depend on Milan.
"What happens will be decided by Milan."
Ancelotti says Kaka's situation will not destabilise the team on Saturday night when they face Fiorentina in a hugely-important game in Serie A as they look to reduce the nine-point gap to leaders Inter.
"Kaka is professional," he said."We need a great performance from him against the Viola.
"I don't think the team will be conditioned. The team is experiencing this situation from a distance.
"There is some movement, we need to be calm, we need to be focused in a game that has a lot of importance in our future.
"We cannot be too alarmed. I know what the fans are thinking but they have to be brave."
Source: PA Sports
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