Burton manager Gary Rowett has rejected the chance to become Blackpool manager - despite Jose Riga still being in charge.
The Sky Bet League Two leaders gave Rowett permission to speak to the beleaguered Championship side, who have lost all five league matches this season.
However, following discussions with Seasiders chairman Karl Oyston, Rowett has opted to stay at the Pirelli Stadium.
Rowett said in a statement on his club's official website: "Following discussions with Blackpool, I have decided that I will remain at Burton Albion for the foreseeable future.
"I feel as though it is not the right job for me at the present time.
"We've made an excellent start to this season, winning seven out of eight games, and I feel we have an excellent group of players in the squad currently.
"I enjoy working with them immensely and this is a very exciting time to be involved at Burton Albion."
The club added in the statement: "Following speculation in the media regarding the future of manager Gary Rowett, Burton Albion can confirm that Blackpool chairman Karl Oyston approached chairman Ben Robinson yesterday afternoon (Monday 8th September) for permission to speak to Gary Rowett about their managerial position.
"Burton Albion gave Blackpool permission to speak to Gary following their approach and he met with Blackpool representatives today (Tuesday 9th September) to discuss the position. Following that meeting, Gary Rowett has confirmed to the club that he will not leave Burton Albion at this present time to join Blackpool."
Riga's position remains precarious after Oyston slammed his unprofessional attitude and refused to rule out sacking him less than 100 days after he was hired.
Oyston is livid that after six successive defeats in all competitions, Riga returned to his native Belgium last week rather than focus on improving the fitness of a squad which played just two pre-season games over the summer.
The relationship between the two appears to be nearing an impasse after the transfer window closed on Monday without any more arrivals at Bloomfield Road, despite Riga's claims he needed four more players.
Reports then emerged on Saturday that Riga would depart the Fylde coast after a mere 87 days in charge.
In an interview with the Blackpool Gazette on Tuesday, Oyston remained coy on whether Riga would be shown the exit door, but the chairman did stress his fury at the manager's actions over the past week.
"Until I've spoken to Jose personally, I don't want to comment about the speculation or go into it in too much detail," said Oyston.
"However, I have to say I find myself slightly bemused yet again by the actions of our manager.
"He has said, on many occasions on the record, he would use the international break to get the players up to fitness and to work with the squad we now have.
"The first thing the manager does is hop on a plane and clear off to Belgium for a week without telling anyone.
"Let's face it we've lost every competitive game he's managed and these actions aren't the most professional way to get us out of this position. To hop on a plane without telling your employer or your colleagues isn't right. It's something I will be speaking to him about."