Blackburn Rovers legend Alan Shearer has turned down the Bristol Rovers job.
The Sunday Mirror says the former England striker and BBC pundit is keen to return to management, but feels there are likely to be more lucrative offers on the horizon.
The Pirates' search for a new manager following the sacking of Paul Buckle has been problematic.
They were granted permission to speak to Burton Albion's Paul Peschisolido last week, but after much soul-searching, he decided to stay put.
The candidates now in the Rovers' frame are Richard Money, Geraint Williams and former Aberdeen boss Mark McGhee.