Ruben Amorim's move to Liverpool from Sporting Lisbon reportedly fell through due to a dispute over his release clause.
The Portuguese boss was at one stage expected to succeed Jurgen Klopp at Anfield after front-runner Xabi Alonso made his intentions to remain at Bayer Leverkusen clear.
Feyenoord manager Arne Slot will be taking over from Klopp in the Reds dugout next season and was always in the frame for the position, but according to Bild reporter Christian Falk, Amorim had all but completed a move to Anfield before Sporting's president moved the goalposts.
'Everything had already been negotiated and the contracts were ready to be signed.' He said via Caught Offside. 'Sporting Lisbon would have received a transfer fee of €10m, as had been agreed.
'However, the president of Sporting Lisbon, [Frederico Varandas], is said to have changed his mind at the last minute.
Ruben Amorim emerged as the front runner or the Liverpool job after Xabi Alonso indicated his intention to stay at Bayer Leverkusen
Sporting Lisbon president Frederico Varandas reportedly doubled the release clause for his manager
Reds supporters are preparing to bid an emotional farewell to Jurgen Klopp at Anfield on Sunday
'Suddenly, the president demanded €20m and spontaneously doubled the price. Liverpool did not want to play the game. That was bitter for Amorim, who would have loved to become Jurgen Klopp's successor.'
Having missed out on the Liverpool job, the 39-year-old flew to London in April to speak with West Ham as they assessed candidates to take over from David Moyes.
Amorim later apologised for the 'completely wrong' timing after he was met by a swarm of journalists upon returning to Portugal.
Earlier this month, he announced that he would be staying with Sporting, having secured his second league title since arriving at the club in 2020.
Meanwhile, Feyenoord boss Slot confirmed that he will be the next man in the Liverpool hotseat.
'I can confirm that I will become the trainer there next season,' he said at a press conference on Friday.
According to Fabrizio Romano, a work permit is still pending for his coaching staff and an official announcement from Liverpool will be made at a time of their choosing.
Slot's revelation comes just hours after Klopp, 56, held his final press conference as Liverpool boss, where he admitted the last week had 'been the most intense of my life'.
The Dutchman was heavily linked with Tottenham last year, but now arrives in the Premier League after Liverpool agreed a £9.4m compensation package with Feyenoord.
Arne Slot has confirmed he will be the new Liverpool manager and will replace Jurgen Klopp next season
Now he arrives into possibly the most desired managerial role going on the continent, with a team that was competing on four fronts until deep into the campaign at his fingertips.
Slot shot to prominence for his work at Feyenoord, winning the Eredivisie at a canter in 2022-23 before adding the Dutch Cup this term, with his side set to finish second in the league to runaway leaders PSV.