NK Olimpija Ljubljana have decided against trying to bring in Harry Redknapp as manager because president Milan Mandaric believes it would be too much of a risk.
The Slovenian league leaders were taken over by the former Portsmouth, Leicester and Sheffield Wednesday owner in the summer and have been without a head coach since Marijan Pusnik's December exit.
"We cannot afford the slightest error because there is too much at stake," Mandaric said via the club's official website.
"We need someone for whom the Slovenian football environment is not foreign.
"It would therefore be pointless at this stage to engage experts from Western Europe.
"I know that it has recently been written and spoken about the arrival of my good friend and former colleague at Portsmouth, Harry Redknapp.
"I can assure you that (it will not be him) because we cannot afford too many risks."
Slovenian league leaders NK Olimpija Ljubljana are trying to tempt Harry Redknapp to become their next head coach - a move made slightly less shocking by the fact Milan Mandaric is owner.
The Slovenian PrvaLiga club were taken over by the former Portsmouth, Leicester and Sheffield Wednesday owner in the summer and have been without a manager since Marijan Pusnik departed a fortnight ago.
Redknapp, without a job since leaving QPR in January, is one of the surprise contenders to take the Olimpija hotseat thanks to the relationship struck up with Mandaric during their time at Fratton Park.
Olimpija director Ranko Stojic hopes to have a new manager in place in the coming days and admits there is a chance the 68-year-old could coach at the Stozice Stadium.
"In your newspapers you have already mentioned that Olimpija could get Harry Redknapp, and there are some possibilities for this scenario to really materialise," he told Slovenian newspaper Ekipa.
"Of course, there is no need to say that this is mainly due to the relationship that he has with our president - their relationship is our greatest asset.
"Redknapp also has an offer from the Arab world, but if he doesn't go there he might come to us."
Former Tottenham and Real Madrid boss Juande Ramos has also been linked with the Olimpija post, along with ex-Fulham manager Felix Magath, Ciro Ferrara, Raddy Antic and Christoph Daum.
Harry Redknapp has backed Jimmy Floyd Hasselbaink to reach the Championship play-offs after he became QPR's new manager today.
Redknapp guided the Super Hoops into the play-offs in 2014 when a dramatic Wembley winner from Bobby Zamora sealed promotion to the Premier League.
But QPR were relegated the following season, with Redknapp deserting them midway through the campaign after he was frustrated in the January transfer window.
Wish Jimmy all the best. QPR’s a good club with good owners. They can still make the play-offs, Charlie’s very important.
Posting on his Twitter account earlier this afternoon, Redknapp said:
"Wish Jimmy all the best. QPR’s a good club with good owners. They can still make the play-offs, Charlie’s [Austin] very important."
Hassebaink takes over from Chris Ramsey, who replaced Redknapp last season but couldn't avoid relegation, and was dismissed last month after a poor run of results in the Championship.
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Les Ferdinand has been promoted to the role of Director of Football at Queens Park Rangers.
The move comes a day after Harry Redknapp resigned as manager at Loftus Road.
Owner Tony Fernandes said the appointment was part of a change of philosophy for the club.
“I’ve been really impressed with the job Les has done in his short time here and as such I am keen for his role to evolve, with the clear mandate of assisting us in developing and evolving the footballing department, from the Academy to the First Team," Fernandes explained.
“This is a new strategy for us. Our recruitment policy at QPR is changing. The recent addition of Ryan Manning to the Elite Development Squad is a sign of what we will be trying to do here.
“We want to develop a philosophy of buying young, hungry players, who can go on to forge decent careers with us.
“We’ve made a number of mistakes in the transfer market over the last few years and it’s something we want to change. We don’t want to be a buying club – we want to nurture young talent and build a young, ambitious team."