The Chinese FA have moved to quash rumours that Joachim Low has been offered €50m to manage the country's national team, as reported by ​Goal.

Spanish paper AS had initially reported that the governing body wanted to get rid of current coach Marcello Lippi after his recent struggles, and replace him with the World Cup winning Germany manager.

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But the CFA have now rubbished the claims, stating that they trust Lippi to turn things around and get China to the 2018 World Cup.

With interest in Chinese football on the rise, and given how much money is present, speculation had picked up that the Italian veteran was about to be replaced by a household name for a lot of money.

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Speaking in a press conference, a CFA spokesperson said: "In response to the reports that have been published by the foreign media regarding Joachim Low, we would like to clarify that the information is not true.

"Marcello Lippi, a world-class coach, is the current coach of the Chinese national team. And the CFA have complete and unwavering trust in Lippi’s coaching."

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Lippi became China manager in 2016 after two years out of the game. Before that, he spent a couple of years with moneybags Super League side Guangzhou Evergrande and was the first 'high-profile' manager to ply his trade in the Far East.

Low has been at the helm of the Germany national side for over a decade now, and speculation has always followed him around when big club vacancies arise, but the 57-year-old has never expressed a desire to move away from international football.​