Rafael Benitez has ruled himself out of the running to become the new manager of Wolverhampton Wanderers, according to Sky Sports News.
The Spaniard had been installed as one of the contenders to replace Mick McCarthy by a number of bookmakers.
However, Benitez is believed to be keen on taking over a club that are not involved in a relegation battle.
Benitez, who has previously had a six-year stint in charge of Liverpool, has been out of work since leaving Inter Milan in 2010.