Graham Potter has decided against making an instant return to management and is set to wait until the summer before making his next move despite interest from Leicester City.
Potter, 47, signed a lucrative five-year contract with Chelsea to succeed Thomas Tuchel back in September but was sacked on Sunday after winning just 12 of his 31 games in charge.
Intriguingly, the Blues' decision to part company with Potter came just hours after Leicester announced that they had reached an agreement which would see Brendan Rodgers depart the club by mutual consent. The Foxes are long-term admirers of Potter -but any hopes they may have had of luring him to the King Power Stadium before the end of the season have been dashed.
According to The Mail, Potter has decided to recharge his batteries over the next couple of months following his tumultuous stint at Stamford Bridge ahead of a return to the dugout next season.
Leicester could still follow up on their interest in Potter at the end of the season, however, after identifying him as a perfect long-term replacement for Rodgers, who spent three years at the helm.
The Foxes are have confirmed that first-team coach Adam Sadler and goalkeeping coach Mike Stowell will take charge in the interim as they battle to stave off relegation, with former Newcastle manager Rafa Benitez a candidate to fill the head coach role on a short-term basis until the end of the season if results do not improve.
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Potter could have his pick of Premier League jobs at the end of the season if Leicester do retain an interest in appointing him. Crystal Palace are also likely to be searching for a permanent boss after turning to Roy Hodgson until the end of the season and are also admirers of Potter whilst he could also feature on Tottenham's shortlist to replace Antonio Conte.
A host of candidates have already been linked with the Stamford Bridge vacancy less than 24 hours after the club confirmed that they had decided to part company with Potter less than seven months after he was pinched by Boehly and co from Brighton.
Former Bayern Munich boss Julian Nagelsmann, who was sacked by the German giants last month, and Mauricio Pochettino are two candidates who are likely to be sounded out by the Blues while The Sun claim that former Barcelona head coach Luis Enrique has been identified as the preferred candidate for the job.
The 52-year-old is currently unattached after standing down from his role with the Spanish national team following their elimination from the World Cup and has also been linked with the vacancy at Tottenham.