Paul Hart has cut his ties from Portsmouth.
The Daily Mail says Hart has rejected Portsmouth's offer to stay at the club as technical director.
The 56-year-old, sacked as manager by the Fratton Park club on Tuesday, had been offered the opportunity to stay on and develop the club's 18-21-year-old players.
But the former Nottingham Forest boss has turned down the offer and is expected to take a pay-off worth six months' salary to sever ties with the troubled South Coast club.
Hart said in a statement: "I would like at this time to thank all of the supporters and players for the backing they have given during my time at Portsmouth Football Club.
"The speed of recent events, though, has been somewhat surprising and I am naturally disappointed not to be able to continue in the role.
"Unfortunately I do not believe that having been the manager of Portsmouth, I will be able to return to the youth-team role that has been offered to me and it is with deep regret that my time with the club has now come to an end.
"However, I look forward to a return to management in the near future."