Former Barcelona manager Pep Guardiola has reportedly decided against moving to Stamford Bridge before the end of the season.

The Premier League outfit are currently searching for a new boss after dismissing Roberto Di Matteo when it became clear that qualification into the Champions League knockout rounds was unlikely due to the Blues' 3-0 defeat to Juventus last night.

While Guardiola has been deemed a top target for club owner Roman Abramovich, it is understood that the Spaniard has informed the Russian billionaire that he intends to see out the rest of his year's sabbatical in New York, according to Spanish journalist Guillem Balague.

Currently, former Liverpool manager Rafael Benitez is the bookmakers' favourite to take the role on an interim basis.