Carlo Ancelotti has insisted that rumoured Arsenal target Asier Illarramendi is not for sale during January's transfer window.

It had been reported in the Spanish media that the Gunners made an offer to Real Madrid for the 24-year-old, who has failed to secure a regular first-team place since joining the La Liga leaders in 2013.

However, the club's manager told reporters: "He is a player of Real Madrid and though it's true he hasn't played much, we still have confidence in him. He's important in the locker room."

Illarramendi has made 23 league appearances since completing his £34m move in July 2013.