Adviser Kia Joorabchian admitted that Hughes would welcome any approach from his former club Chelsea, but re-iterated that no talks had taken place.
"I stick by what we are saying - we were not talking to anybody. No other club is in consideration," he told Sky Sports.
"The timing may have influenced the press and public that he's headed in a direction. That's not the case.
"Chelsea have some candidates at the moment and we'll wait and see. If they approach Mark he'll be happy to speak to them. It would be an honour for him.
"But we've not spoken to any club.
"Now that he has left Fulham we can explore options in the next few weeks."