Norwich City have rejected Everton’s bid of about £20m plus add-ons for central defender Ben Godfrey.
The deal for the 22-year-old would have been worth about £26m with add-ons and talks are continuing between the clubs.
Godfrey is under contract with the Canaries until 2023 with the Carrow Road club having the option of a further year.
Everton are looking to boost their options in defence after injuries to Mason Holgate and Jarrad Branthwaite.
“We are looking for a centre-back because we are short, but at the moment he plays for Norwich,” said Ancelotti after Everton’s Carabao Cup win over West Ham on Wednesday.
Godfrey joined Norwich in 2016 from York City for £150,000 and played a key part in their promotion to the Premier League in 2018-19.
He made 30 top-flight appearances last season as the Canaries were relegated back to the Championship.