Former Chelsea manager Guus Hiddink could be on his way back to replace Carlo Ancelotti at Chelsea according to a report in ESPNsoccernet. 

The report says that Hiddink is the first in line to replace Ancelotti, if the Italian fails to deliver the Champions League this season.

Despite winning the double in his first season at Chelsea, Ancelotti finds himself under pressure after a troubled few months at Stamford Bridge in which Chelsea were eliminated from the Carling Cup and the FA Cup, along with a miserable run in the Premier League which saw their hopes of retaining the title fade away.

It is understood that if Ancelotti fails to guide Chelsea to their first Champions League triumph this season, Abramovich will fire him and re-appoint Dutchman Hiddink.

In a similar situation in 2009, then Chelsea boss Scolari was sacked with Hiddink coming in as a temporary replacement. In his three months at Chelsea, he won the FA Cup.

An ESPNsoccernet source confirmed that, If Abramovich does decide to dispense with Ancelotti then the manager he will try for first will be Hiddink.

After investing £75 million in January transfer window, signing Fernando Torres and David Luiz, it looked as though Abramovich had his backing for Ancelotti. However, having failed to win in three games since, including their FA Cup elimination against Everton, Chelsea's only hope of silverware this season is the Champions League. In fact, the Chelsea owner might even consider damage-limitation and buy Hiddink out off the remainder of his contract with Turkey, which runs out next summer.