David Moyes has turned down the chance to manage Sunderland, according to a report in the Daily Mail.
The Black Cats are on the lookout for a successor to Dick Advocaat, with the Dutchman leaving after guiding the club to top-flight safety, and they reportedly felt that Moyes would have been the natural replacement.
Sunderland had been prepared to offer Moyes a big contract and a sizeable transfer budget to reshape his squad, but they were unable to convince the former Manchester United and Everton boss that the move to Wearside was the right one.
It means that the North East club are still on the hunt for a new man to takeover at the Stadium of Light and there are no obvious candidates.
Sunderland want someone with experience, but their failure to land Moyes means that they are having to work through their wishlist.
The job that awaits whoever the new manager is a tough one but, with a big budget on offer, the challenge should be an appealing one to a lot of potential bosses.