Lampard signed for the newly-established New York City FC, but is set to be immediately loaned back to the MLS side's parent club Manchester City.
And Real Madrid coach Ancelotti admitted he was taken aback by the news of the 36-year-old staying in the Premier League.
"I’m really surprised because I thought he was coming here to the USA to play," said Ancelotti as he prepared the European champions for their pre-season clash against Manchester United in Michigan.
"It’s too late for me to take him to Madrid," he added, striking a clear note of regret that suggests he'd have loved to link up with a player who was instrumental in Ancelotti's double-winning season with the Blues in 2009-10, scoring 27 goals.
"I’m really happy for Frank as I have a good memory of him. I wish him luck.
"He’s a good signing for Manchester City.”
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