Pat Dolan has turned down Derry City's offer to become the Eircom League club's new manager.
Dolan has opted to continue with his television commitments
The former St Patrick's Athletic and Cork City boss held talks with the North West club following Pat Fenlon's recent resignation.
Dolan described the offer as "tempting" and said he had considered returning to management after a three-year gap.
However, he has opted to extend his contract as a football presenter and analyst with Setanta Sports.
It is unclear whether he will continue to act as advisor to First Division side Wexford Youths where his friend Mick Wallace is manager.
Dolan, who first joined the sports channel in 2005, has extended his contract by three years.
He has been out of front-line management since guiding Cork City to a runners-up spot behind Shelbourne in 2004.
Derry have been looking for a new manager since Pat Fenlon's surprise decision to quit the club after only five months in charge last month.