Stockport manager Jim Gannon has turned down the opportunity to take over at League One rivals Brighton.
The 40-year-old travelled to the south coast to hold talks with Seagulls chairman Dick Knight on Wednesday morning, but has opted to stay at Edgeley Park despite recently describing his position as "untenable" due to the club`s financial problems.
Knight said: "Jim had certainly caught my eye and we had a lengthy and interesting meeting. But it was never a done deal, because it was a huge decision for him to leave a club he has served as a player and manager for so long."
He added: "It is disappointing he has chosen to stay with Stockport but the process to find the new manager will continue over the coming days."
Gannon was on a three-man shortlist along with two unnamed candidates. Ex-Watford manager Adrian Boothroyd is still being linked with the role.
Caretaker bosses Dean White and Bob Booker, who took over when Micky Adams departed last week, look set to remain in charge when Crewe visit the Withdean on Saturday.
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