Arsenal are not thought to be considering former Napoli manager Carlo Ancelotti in their search for a new boss.
Ancelotti was linked with the Gunners even before he was relieved of his duties by the Serie A side on Tuesday, but he would now be free to speak to Arsenal if both parties wished to do so.
However, according to ESPN, Ancelotti's name is not on Arsenal's list of potential candidates to replace Unai Emery, as many at the club have concerns about the legendary manager's recent struggles around Europe.
He lost his job with Bayern in September 2017 amid reports that he had lost the support of several senior figures in the dressing room. while his tactics and player selection also left many fans frustrated.
His time with Real before that was not as turbulent, but he was still abruptly sacked in May 2015 as the club were concerned that he was not capable of leading the team past rivals Barcelona in La Liga.
Arsenal do not want to rush into making a decision about their next manager. They have received plenty of interest in the position and are currently conducting interviews to try to narrow down their shortlist.
They only want to hire the right candidate, rather than the one with the biggest reputation or most attractive résumé.
That backs up recent claims from The Athletic's David Ornstein, who stated that Arsenal are happy to wait until the summer in order to make sure they bring in the right person.
In an ideal world, Arsenal want to find the ideal candidate right now, so as to sort the situation out immediately, but they are prepared to give Freddie Ljungberg the chance to prove himself while they search for someone new.
Ljungberg picked up his first win as Arsenal boss on Monday as his side battled to a 3-1 win over rivals West Ham United, and they will hope to use that momentum on Thursday when they will look cement first place in their Europa League group against Standard Liège.