Claudio Ranieri has suggested that he will only return to the dugout if he is presented with the right "project".
After leading Leicester City to last season's Premier League title, Ranieri is unlikely to be short of offers ahead of the 2017-18 campaign, and he is currently regarded as one of the favourites to take over at Watford.
However, he has indicated that he will take his time before making a decision on his next move, which may not come in English football.
The Italian told Goals on Sunday: "After winning the title with Leicester, I have to choose very well. My agent is in Spain, Italy, France and in England and now I want to choose very well.
"For, what is important is the project. Say everything clear and then I go 100%. We have to be together. What is it you want to do. If I agree, I will give 100% of myself."
Ranieri has been out of work since he was sacked as manager of the Foxes in February.