Joe Royle has withdrawn his interest in becoming the new manager of Leicester, despite a positive meeting with owner Milan Mandaric.

The 58-year-old was thought to be one of the favourites to succeed Gary Megson, who left the Foxes on October 24 to take over at Bolton.

The former Oldham, Everton, Manchester City and Ipswich boss met Mandaric last week about the vacancy at the Walkers Stadium.

"I had a chat with Milan Mandaric last week and we got on great," Royle told the Leicester Mercury. "But I decided towards the end of last week, for personal reasons, it would be best if I withdrew my interest."

Mandaric is hopeful he will fill the post during the current international break. Graeme Souness, Peter Reid and Jean Tigana were reportedly among the candidates interviewed along with Royle last week.