Real Madrid boss Carlo Ancelotti has admitted that it could be considered a failure if his side fail to reach the final of the Champions League this season.

Los Blancos tackle holders Bayern Munich in the final four of the competition, with the first leg to be held in the Spanish capital on Wednesday evening.

"Failure is such an ugly word. I can't say that getting to the semi-finals is a success," he told reporters at a press conference.

"The target in this competition is to get to the final. We're not in the final yet. We have to fight for 180 minutes against a strong team.

"A semi-final isn't a success, but I think that four consecutive semis is not bad."

Madrid were eliminated in the semi-finals by Borussia Dortmund last season.