Calderon was seen in talks with Malaga officials this week.
"I will not be president of Malaga," he reacted.
"I don't want to go back to football. I am simply advising and contributing my grain of sand to try to help a club and a city, to which I have a lot of love.
"I already lived in the best team in the world what it means to be president.
"Imagine myself at the Bernabéu representing Málaga? No, I would not like it. I haven't thought about it, nor have they proposed it to me. Man, if they hire me as an employee of Malaga and on their behalf, I would go, but I can't imagine being a rival of Real Madrid."