Tottenham Hotspur have been frightened off by the potential £70million cost of landing Brendan Rodgers.
Tottenham chairman Daniel Levy was confident of finally getting his man, despite the Leicester chief publicly dismissing the prospect of succeeding the sacked Jose Mourinho.
But the Londoners have been unable to come up with a package that would get Rodgers, 48, out of the King Power.
The Northern Irishman earns up to £10m a season with the Foxes.
And Tottenham would need to offer a four-year contract of £12.5m a year, plus Leicester’s expected compensation demands of £20m — a similar amount to what Bayern Munich are paying former Spurs target RB Leipzig for Julian Nagelsmann.
The Carabao Cup runners-up would also have to shell out for the ex-Liverpool manager’s backroom staff.
Rodgers — who was offered the Tottenham job by Levy in 2012 but instead went to Anfield — will now remain at the King Power.
He said: “Tottenham is a great club but . . . I’m very happy here. I want to continue my work here.”
Spurs will now talk to Erik ten Hag, 51, about taking over — but will only do so once his Ajax side have sealed the Dutch title.