Jose Mourinho has turned down a bumper £88m (€100m) contract to manage a club in China, according to Sky sources.
It is claimed Guangzhou Evergrande were willing to pay the former Manchester United and Chelsea boss £28m a season, with bonuses, in what is believed to be the biggest managerial offer in world football.
It is understood Mourinho had the right to choose the duration of the contract on offer.
Mourinho was pictured meeting Xu Jiayin, the billionaire chairman of the Evergrande group, in London in April when they discussed a potential move.
Despite declining the offer, the meeting with Jiayin was good-natured with Mourinho flattered by the interest.
The Portuguese, as he has repeatedly stated, wants to continue his career in European football, to coach at the top level and is aspiring to win his third Champions League and his ninth league title in different countries.
He was recently endorsed for the Juventus job by Cristiano Ronaldo but was out of the Italian club's price range and didn't feel it would have been the right opportunity anyway.
Rafa Benitez recently left Newcastle to join Dalian Yifang citing the project was just as attractive as the high salary but Mourinho does not feel the same way.
He has also rejected an offer to take charge of the China national team after Marcelo Lippi left the role.
Lippi was replaced briefly as China manager by Guangzhou boss Fabio Cannavaro before Cannavaro returned to the club, and it was in this period of uncertainty that the offer was made.
Guangzhou Evergrande have yet to comment.
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