Real Madrid manager Carlo Ancelotti has said that his club have no intention of making an exchange deal with Juventus to swap Xabi Alonso for Andrea Pirlo.

Rumours have circulated about a potential exchange, with Italian midfielder Pirlo recently adding to speculation by refusing to rule out a move away from the Old Lady.

"Xabi is a vital player for Madrid now that he's recovered from injury. There are only two players like him in Europe. One is Pirlo and the other is Xabi," said Ancelotti, according to Goal.com.

"However, we have no intention of making a player exchange deal with Juventus. There is no substance to any rumour like that."

Madrid are third in La Liga, with Ancelotti's men trailing leaders Barcelona by six points.