Madrid, April 17 (IANS): Real Madrid coach Carlo Ancelotti admitted on Friday the Spanish football club may decide not to offer him a new contract and added he is in no hurry to sign an extension.

The coach has a year remaining of his contract to discuss an extension, but also acknowledged the club may not wish to offer him fresh terms.

However, with his contract running until June 2016, the 55-year-old said there is plenty of time to work out the details over a renewal - if both parties want one.

"There is no rush. I have another year of my contract to see whether or not I want to renew. We talked about sitting down to discuss a new deal, but we never worked out a day to sit," Ancelotti was quoted as saying by goal.com.

"If the club don't call on me to renew today, they might call me in September, or perhaps not call me at all," he said.

Madrid were held to a 0-0 draw by city rivals Atletico Madrid in their Champions League quarter-final first leg at the Vicente Calderon stadium on Tuesday.

Ancelotti said he was content with the result and performance.

"The team played well. It's hard to play better than that in a field as complicated as Atletico's. In the first hour we did very well. But of course we are not happy with the result. Although it gives us confidence for the second leg on Wednesday," Ancelotti concluded.