Graham Potter has reportedly turned down the opportunity to manage Ajax, potentially leaving the door open to Erik ten Hag should he depart Manchester United.
Potter, 50, had emerged as one of the leading candidates to take over at the Johan Cruyff Arena.
Ajax sit fifth in the Eredivisie table and have been nursed by caretaker manager John van't Schip since they sacked Maurice Steijn in October.
However, he has rejected their overtures because he feels the project isn't right for him, according to The Athletic.
Mail Sport reported a couple of weeks ago that former manager Ten Hag would be Ajax's first choice if he is available.
Graham Potter has reportedly turned down the opportunity to take over at beleagured Ajax
Man United boss Erik ten Hag is Ajax's preferred option if he becomes available in the summer
He left the Dutch giants for Old Trafford in 2022 but is in a position of jeopardy.
Manchester United's partial owner Erik ten Hag could pull the trigger after the FA Cup final against Manchester City on May 25.
Floundering in eighth in the Premier League, the Red Devils are on course for their worst finish since the 1989-90 season.
Ten Hag was hailed as the Netherlands' next big thing at Ajax, winning three league titles and two KNVB Cups during a five-year stint.
He also led them to the Champions League semi-finals in 2018-19, where they were dumped out by a remarkable Lucas Moura-inspired Tottenham comeback.
Potter has been out of work since being axed by Chelsea in April 2023.
Todd Boehly gave him just 31 games after luring him from Brighton with the promise of being given time to handle a long-term project.
A £600million spendng spree the previous summer, when Thomas Tuchel was still in charge, signalled Boehly's high ambitions, and a five-year contract was promising for Potter.
Ajax, fifth in Eredivisie, have been managed by caretaker boss John van't Schip since October
Potter has been out of work since being disposed of by Chelsea in April last year
However, he was not able to achieve the same acclaim that he garnered at Ostersunds, Swansea, and Brighton, and has been waiting for the right opportunity since.
Perhaps it's little surprise that the Ajax project does not appeal to him. The usually imperious Dutch club are 35 points behind Eredivisie leaders PSV and have endured a thoroughly miserable season.