Brighton & Hove Albion manager Gus Poyet has turned down the chance to take charge at Reading.
The Uruguayan was heavily linked with the vacant post at the Madejski Stadium following the sacking of Brian McDermott earlier this month.
Former Southampton boss Nigel Adkins is now the favourite to land the job with the Premier League strugglers.
Adkins was dismissed by the Saints back in January having gained them successive promotions to the top flight.