Fulham's attempt to hire Martin Jol as manager broke down over Ajax's refusal to release him from his contract.
Jol said Thursday that he will stay in Amsterdam and Fulham said it did all it could to bring Jol to west London, even agreeing to a contract with the Dutchman.
"Ajax were not willing to allow him to leave under any circumstances," Fulham said in a statement. "When Fulham commenced negotiations with Martin Jol, the club was informed that an exit clause existed in his contract with Ajax.
"Subsequent negotiations revealed that the clause was no longer valid and Ajax position remained steadfast in their desire to keep their manager."
Fulham thanked Ajax for its conduct in negotiations, which have now ended.
British bookmakers now rate David Jones, the manager of English second-tier side Cardiff, as favorite for the Fulham job. Former England coach Sven-Goran Eriksson is next, followed by United States coach Bob Bradley.
Whoever comes in has a tough act to follow in west London.
Roy Hodgson saved Fulham from seemingly certain relegation in 2008 after returning to his native England, and guided the Cottagers to an all-time best seventh place a year later.
Fulham dipped to 12th last season but made it to only the second major final in the club's 131-year history before losing 2-1 to Atletico Madrid in Hamburg.
But Hodgson's success raised his profile further and he joined Liverpool on July 1.
Jol spent three years in charge of Tottenham in the Premier League until he was fired in October 2007.
"I can't leave the club at the moment," Jol said Thursday. "I came here last summer to be successful, build a good team and have fun.
"And those three things are also important for me in the coming season."
Jol added that he is happy to stay in Amsterdam despite concerns over the former European power's financial position.
Jol has made no secret of wanting to strengthen Ajax's squad but has had trouble getting money for players from the cash-strapped club. Fears that it would not be possible made him take Fulham's approach seriously.
"The club and I share one another's concerns. Everybody knows that Ajax has financial problems," Jol told the Ajax website.
Ajax has sold forwards Marko Pantelic and Dennis Rommedahl in recent weeks along with midfielders Kennedy Bakircioglu and Gabri but has not bought any players to replace them.
It also faces the strong possibility of losing last season's top scorer, Uruguay striker Luis Suarez, after his high-profile World Cup campaign that included three goals and an extra-time, goal-line handball against Ghana that helped Uruguay reach the semifinals, where it lost to the Netherlands.
Right back Gregory van der Wiel and goalkeeper Maarten Stekelenburg, who both starred for in the Netherlands' run to the World Cup final, also could leave during the transfer season.
Jol's final few months with Tottenham were also dogged by reports of unhappiness with the amount of control he had over finances and player signings.
The club spent heavily on players against his wishes, according to British newspapers, and the previously improving team suddenly faltered. He was fired in October 2007 despite having taken the north London club to two straight fifth-place finishes in his only two full seasons in charge - the team's highest position since 1990.
But despite Tottenham being in the relegation zone when he left, Jol remained popular with supporters for his achievements and forthright demeanor.
Fans chanted his name in support at White Hart Lane as news of his impending departure filtered through during his final game in charge.
He spent the 2008-09 season at Hamburg, taking the team to fifth place in Germany's Bundesliga as well as the semifinals of the UEFA Cup and German Cup.
Jol said he is now turning his focus to next week's Champions League qualifier against Greek club PAOK.
"And we want to strengthen the team," he said. "We are going to look to the future with the club and do our best to quickly get the team up to the desired level."
In his first season in charge of Ajax, Jol led the club to second place in the Dutch league and won the domestic cup.
