"Losing to Madrid is not a disappointment, but going out in the last 16 is".
And now that he has failed that task for two successive years, the 46-year-old could be dismissed in the coming days.
A Champions League title is the main target in Paris, and Conte's record in Europe's premier competition-he has never led a side past the quarter-finals-may give the team's hierarchy pause.
However, the French club are aware Pochettino is unlikely to leave Spurs during the season, meaning they will attempt to lure him to Paris this summer.
Some believe Conte could be the ideal fit for PSG because he seems to have the ability to produce short-term success, which CEO Nasser Al-Khelaifi is apparently desperately craving.
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Another North London manager, Arsene Wenger, represents an interesting bet at 7/1 to dart accross the Channel Tunnel.
The Italian's contract will also expire this summer, and it is known that the Ligue 1 side, recently eliminated from the Champions League, is looking for an "Italian revolution", with Max Allegri also being lined up.
The Italian look set to leave Stamford Bridge at the end of the campaign and according to reports his agent has already been in talks with the moneybags French outfit.
Arsenal are enduring a torrid time this season having lost four in a row.
Ancelotti, without a club since being sacked by Bayern Munich in September, was previously in charge at PSG from 2011 to 2013, while Luis Enrique brings the potential for a reunion with former Barcelona stars Neymar and Dani Alves, who both played under the Spaniard during his three-year spell as Blaugrana boss.