Monchi has revealed he rejected interest from Arsenal to return 'home' to Sevilla.
The La Liga club confirmed the reappointment of the 50-year-old as their general sporting director on Saturday, two years after he left for Serie A side Roma.
Monchi had been linked with a move to Arsenal as a potential replacement for Sven Mislintat, who left the Gunners as their head of recruitment in February.
The Spaniard, who left his post at Roma earlier this month, says he did receive interest from the Premier League side, but was ultimately convinced by the project set out by Sevilla president Jose Castro Carmona.
"I thank Arsenal for their interest," said Monchi, who worked with Arsenal boss Unai Emery during their time together at Sevilla.
"It has been the club that has shown the most interest in me but, in the end, I evaluated all of the offers I had on the table and I chose the one that convinced me most.
"I had other options, and very important ones that were flashier, but I've chosen Sevilla because its sporting project convinced me.
"I want to thank everyone that contributed to my return to what I consider to be my home."
Monchi left Sevilla in April 2017, bringing an end to a 17-year period where the La Liga side won 11 trophies, including three Europa League titles.
He added: "Many people outside of Seville have told me that I've made the wrong choice, that sequels are never good.
"I've evaluated all of this. I'm here not because I'm a Sevilla fan, not to save someone's skin, but because in the conversations I've had with the club president and other club executives, they have transmitted to me an idea of what Sevilla's future could be that coincides with what I believe Sevilla's future should be.
"My idea is to help Sevilla grow. I want to build a Sevilla team that can fight among the best."