Spanish manager Marcelino Garcia Toral rejected the chance to take over at Nottingham Forest.
The Reds are in relegation danger, as they are in 16th place in the Premier League.
Having spent significant funds on more than 25 players over the last two transfer windows, Forest are determined to stay up.
However, manager Steve Cooper's position could now be seen as under threat.
According to El Partidazo de COPE, Forest sent an offer to ex-Athletic Bilbao coach Toral recently.
The 57-year-old, however, turned down the offer as he does not want to take over a project so late in the season.