Carlo Ancelotti in talks with Brazil after Real Madrid meltdown against Barcelona in Copa del Rey final

South American giants keen to have veteran manager in charge during crucial World Cup qualifiers

Real Madrid's head coach Carlo Ancelotti gestures during the Copa del Rey final. EPA

It was another win for Barcelona over Real Madrid, another trophy at the expense of their great rivals following January’s Spanish Super Cup in Riyadh.

A Copa del Rey final that started on Saturday night in Seville and finished on Sunday morning was as gripping and exciting as any neutral fan could have hoped for, with Barcelona winning 3-2 after extra time.

And to top it all, Madrid's stars lost their temper at the end of the contest, players were shown red cards, and coach Carlo Ancelotti's future as Real Madrid manager came into sharp focus.

The final burst into life as Pedri gave Hansi Flick’s side the lead on 28 minutes as the Catalans dominated before Madrid vastly improved in the second half, equalising through Kylian Mbappe after 70 minutes and taking the lead through Aurelien Tchouameni with 13 minutes to play.

Barcelona’s hopes of a double or a treble or even a quadruple were on the ropes but Ferran Torres’ 84th minute goal sent the game into extra time in front of 70,000 fans.

Defender Jules Kounde, back in the city where he made his name at Sevilla, got the 116th minute winner to make it 3-2 at the end of a game where both teams looked exhausted.

Madrid must focus now on La Liga but that will be a challenge since they trail a Barca side - who have beaten them in all three encounters so far this season - by four points with five games to play. And one of those games is at Barcelona.

Stranger things have happened, but whether Madrid’s Italian coach Ancelotti will even be in charge is moot as speculation has grown about his future at the Bernabeu.

“I could stay at Real Madrid or maybe leave… we will see,” Ancelotti, one of the most successful coaches in football, said in Seville. “It will be a topic for the next weeks, not for today.”

The presence of Brazilian businessman Diego Fernandes at the Copa del Rey final was an indication of Ancelotti’s future.

Fernandes, who serves as liaison to the Brazilian Football Confederation, is in talks with Ancelotti to take over as the coach of Brazil. Sources close to the matter indicate that this trip includes further private meetings with the Italian coach.

Barcelona players with the Copa del Rey trophy in Seville. AFP

Fernandes wants to convince Ancelotti to move to Brazil and expedite his taking over the national team, starting as early as June's World Cup qualifiers against Ecuador and Paraguay — meaning the Italian would forego the Fifa Club World Cup with Real Madrid.

At Madrid, the sentiment is clear. Former player Xabi Alonso is expected to replace Ancelotti and Alonso’s club Bayer Leverkusen are not expected to stand in his way.

Those close to Madrid president Florentino Perez and Ancelotti acknowledge that Fernandes’s approach has been tactful and diplomatic and if Ancelotti's departure to coach Brazil is confirmed, it is expected to be framed as a mutual gesture of respect rather than a sacking.

Given Ancelotti, 65, has won 15 trophies in two spells as Madrid coach including three Champions Leagues, it would be sad if a departure both sides are prepared for was acrimonious. But, by their own stellar standards, this has been a poor season for the club.

And a poor year for Brazil, too, who sit fourth in the South American World Cup qualifying group with six wins and five defeats. The recent 4-1 loss to Argentina in a World Cup qualifier shows how they need revitalising and Ancelotti is likely to be the man who gets a chance to do that.

Whatever happens, the current sentiment at Madrid is sombre.

It has been so for some time, with Madrid even threatening to boycott the Copa del Rey final in a row about referees.

The referee broke down in tears at the pre-match press conference, there were appeals for penalties and Madrid’s players on the bench lost their tempers at the end of the game and a horrible two weeks for the club as they exited two cup competitions and slipped behind in La Liga.

“I’m hurt, it was so close,” said Ancelotti. “We were so close to winning. Now we will focus on winning La Liga.”