The meeting was to discuss the possibility of Ancelotti taking on the Brazil job, a position he had previously expressed interest in.
However, he decided not to accept the offer at this time, reportedly due to leaks from the CBF that affected his relationship with Real Madrid and its president, Florentino Perez.
Ancelotti had initially considered the Brazil job and even joked about it with his players, but ultimately chose not to take the position.
He has not ruled out the possibility of taking the job in the future, but plans to wait until the end of the season to revisit the opportunity.
Ancelotti's decision to delay the talks suggests that he values his current role at Real Madrid and does not want to jeopardize his relationship with the club.