Roy Keane turned down the Sunderland manager's position as it is thought he was unhappy about only being offered a deal until the end of the season.
Keane emerged as a surprise contender for the job a few days after Lee Johnson was relieved of his duties following a humbling 6-0 defeat at the hands of League One rivals Bolton Wanderers.
Reports suggested that talks with the former Manchester United captain reached an advanced stage but Sunderland eventually set their sights elsewhere, opting to offer former Preston and Norwich manager Alex Neil the hot seat.
According to The Sun, Keane rebuffed the Black Cats' advances as he wanted a longer contract that the one on the table. Sunderland were willing to include an extension clause in the deal if they won promotion, but the Irishman was not willing to put pen to paper.
Asked why the move fell through on The Overlap Live, Keane said: "The deal has to be right for everyone. It didn't fall into place last week. It wasn't meant to be.
"Everything has to be right - the right challenge, the right contract. You have to fancy it. I've not had the opportunity the last few years. There has not been a club where I think, 'I'm the right fit for that club'."
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