The Russian Football Union (RFU) has claimed Fabio Capello will see out his contract as manager of the Russia national team following links to Paris Saint-Germain.
Capello is contracted to Russia until after the 2014 World Cup and the RFU have said in an official statement that he is happy to fulfill the remainder of his deal.
The former England, Real Madrid and Juventus manager has been heavily tipped to replace fellow Italian Carlo Ancelotti at PSG following reports that Ancelotti is keen to leave for Real Madrid.
However, a statement on the RFU's official website said: "In regard to the numerous media reports concerning a possible move of Russia's national team coach Fabio Capello to Paris St Germain, the Union officially states that the coach has a contract with the RFU.
"[The contract] runs until after the final stages of the 2014 World Cup, which will be held in Brazil, and Capello is satisfied with his work as the head coach of the national team. Based on these facts, the Italian will fulfil his contract until it is completed."
Capello took charge of Russia in August 2012, four months after leaving his role as England manager. The eastern European nation are second in their World Cup qualifying group behind Portugal.
With their chase for Capello all but over, PSG will be forced to widen their gaze. French media pushed former Manchester City manager Roberto Mancini to the front of the queue of potential appointments, though he is reportedly unhappy with having to work with Leonardo, with whom he has strained relations, while the one-year deal on offer is also a stumbling block.
Ex-Bordeaux and France coach Laurent Blanc is another possibility, particularly as he was reportedly already sounded out about the job by PSG president Nasser Al Khelaifi in late May, and would - unlike Mancini - have no reservations about co-operating with the Ligue 1 champions' Brazilian sporting director.
Having been passed over by Roma in favour of Rudi Garcia, the ex-French international defender, who has been out of work since leaving the national team job a year ago, would also be amenable to the short-term offer PSG have already unsuccessfully tabled to Andre Villas-Boas, Michael Laudrup and Capello.
Further names mentioned in the French media, such as Marco van Basten, Frank Rijkaard, Roberto Di Matteo and Zico, have only just surfaced with PSG's initial shortlist, which also included Guus Hiddink, exhausted.
Information from the Press Association was used in this report.