Joe Torre will remain as manager of the New York Yankees despite his team's play-offs first-round elimination.
Torre spoke with Yankees owner George Steinbrenner by phone on Tuesday. "He gave me his support," he said. "I'm just pleased to stay on and do this."
Reports in New York claimed the team were lining up former player and manager Lou Piniella to replace Torre.
The Yankees, whose $200m payroll dwarfs that of most other MLB teams, made their second straight first-round exit.
Torre has guided the Yanks to the play-offs in each of his 11 seasons, winning four World Series and two other AL titles.
The 66-year-old has one year left on his contract and said he was not concerned that he had no agreement beyond next season.
"The fact is that 2007 may be my last year," Torre said. "When you work here you've got to understand that every year may be your last year."
With 1,973 regular-season wins, Torre is 10th on the career list and third among active managers behind Tony La Russa of St Louis Cardinals (2,297) and Bobby Cox (2,171) of Atlanta.
He has the longest uninterrupted term for a Yankees manager since Casey Stengel held the job for 12 years from 1949-60.
Under Torre, the Yankees have gone 1,079-699. He trails only Joe McCarthy (1,460) and Stengel (1,149) for victories among Yankees managers.