Unai Emery is prepared to wait for the right opportunity to return to management, having already turned down approaches from Everton and two Chinese sides.
Emery is currently without a club after being sacked from Arsenal following a disappointing run of form earlier in the season.
The Gunners went on a winless run of seven games at the tail end of the Spaniard's tenure, with a lacklustre 2-1 defeat to Eintracht Frankfurt - in which some fans choose to hold up #EmeryOut placards - proving to be his final match in charge.
Despite his acrimonious exit, the three time Europa League winning manager has had no shortage of interest in his services.
Earlier in the week it was suggested that Emery 'would consider' taking over from Marco Silva at Goodison Park, however Marca are now reporting that the 48-year-old has turned turn the Toffees approach.
According to the report, the former Valencia boss felt it was too early to return to the Premier League and wants to bide his time to find a more appropriate club.
He has also allegedly rejected approaches from two unnamed Chinese clubs, turning down the opportunity to compete against Vitor Pereira and Rafa Benitez who are both managing in the country.
With Emery seemingly uninterested, Everton will have to focus their efforts on other candidates.
They would face competition from Arsenal to secure his signature, with the Gunners considering Arteta their 'leading candidate'.
Everton are also weighing up the possibility of Carlo Ancelotti taking over. The former Real Madrid boss was recently sacked by Napoli and it is unsure how interested he would be in a move to the Premier League so soon after.