Sven-Goran Eriksson has rejected the chance to become Sweden's head coach and will stay on as Notts County's director of football.
The former England manager had been linked with the coaching vacancy at the helm of his national side, but Swedish Football Association Lars-Ake Lagrell has admitted defeat in his attempt to persuade him to leave Meadow Lane.
Eriksson was appointed by the ambitious Magpies in July following the takeover of the club by Middle Eastern investors.
He is seen as a key component of the club's bid to reach the Championship within a four-year plan.
"Last week we made contact with Svennis, who is one of the people we thought could be a possibility for the job as national team coach," Lagrell told the association's official website.
"We have had good discussions, but he has now decided that with regards to his contract with Notts County, there is no possibility of him taking charge of the national team now."
The job became available following the resignation of Lars Lagerback in the aftermath of Sweden's failure to qualify for the 2010 World Cup Finals.