Guus Hiddink has distanced himself from rumours linking him with an imminent return to Chelsea, despite admitting he is in regular contact with Blues owner Roman Abramovich.
The Dutchman had his contract terminated with the Turkey national team last week after they failed to overcome Croatia in their Euro 2012 play-off.
Hiddink enjoyed a successful four-month spell at Stamford Bridge in 2009, replacing Luiz Felipe Scolari that February and leading the team to FA Cup glory and third place in the Premier League.
The 65-year-old returned to his then permanent position as coach of Russia that summer but speculation has continued ever since over a possible return to west London.
That speculation increased on Sunday when Chelsea lost 2-1 at home to Liverpool, their third defeat in four games, to leave current boss Andre Villas-Boas under pressure.
Hiddink freely admits he is still in contact with Roman Abramovich but appears to have ended speculation of a dramatic return - for now at least - by revealing he intends to take some time out of the game.
When asked whether he had been offered at position back at Chelsea, Hiddink told RT: "No, I was contracted to the Turkish Federation at the time.
Relationship
"The relationship [with Abramovich] was and has been and will be very good.
"When I go to London, I am always welcome at Cobham [Chelsea's training ground] and the stadium.
"We don't speak every week but every now and then there is contact and I feel very welcome always.
"I will take some time off and we will see what the future brings.
"I haven't agreed anything with anyone because I was in Turkey, that's why I will take my time to settle down and reflect on what to do.
"I have made the decision to stop the previous job and then one must take some time to reflect and look where there is a prestigious project, not just football but also through other things where I can help somewhere.
Return
One such project could be a move to big-spending Anzhi Makhachkala. The Russian Premier League club have been linked with a move for Hiddink and it would mean a return to the country where he had a successful four-year spell in charge of the national team.
Hiddink admitted that such a move may be of interest to him, adding: "There is deep affection from my side and frequent contact with all kinds of people in Russia which I like very much.
"I have heard it [Anzhi's project] from the outside but it is a prestigious project. I like the project because there must be a good football team.
"It's not just football, it's nice for a region [Dagestan] which is still living in poverty."
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