Ivory Coast chief Sory Diabate has revealed that financial terms prevented the African country from keeping Sven-Goran Eriksson on as coach.
The Elephants have confirmed the departure of the Swede, who led them on a short-term basis to the World Cup in South Africa, where they performed credibly but failed to progress beyond a tough group stage.
The former England boss was also keen to remain, but Diabate, the president of the national teams committee, said: "Eriksson will not be the next coach of the Elephants.
"He was the first choice but the discussions came to nothing after difficulty arose about financial conditions, despite the good will on both sides.
"This is the place to once again thank Eriksson for the outstanding job he has done with the national team during the World Cup that has earned us the result we know."
The west Africans were in arguably the toughest group at the finals alongside Brazil, Portugal and North Korea.
Diabate also denied reports that the 62-year-old was unhappy with the ambition showed by the Ivorian Football Federation (FIF), insisting it was not the reason he left.
"It's not true," he responded when asked about it. "Eriksson called us and renewed his thanks and greetings to the president of FIF and members of the executive committee.
"He remains convinced that the team of Ivory Coast has huge potential and a bright future.
"He told us that his deep and sincere desire was to continue with this team. However, he regretted that it was not possible.
"He said he had never granted an interview to anyone about our discussions and denied the federation lacks ambition.
"Instead, he praised the federation and although he has left, he remains our friend, just like we remain his."
The team's next game is a friendly against Italy on August 10 and Diabate is hoping to have a new man in place before they depart for the game in London.
He added: "The consultations are continuing. For the moment nothing is yet decided, but I think we will be able to name the coach soon.
"The executive committee are deciding between two or three candidates, who I cannot reveal. Everything should be finalised before our scheduled departure for London on August 7."
The former England boss was also keen to remain, but Diabate, the president of the national teams committee, said: "Eriksson will not be the next coach of the Elephants.
"He was the first choice but the discussions came to nothing after difficulty arose about financial conditions, despite the good will on both sides.
"This is the place to once again thank Eriksson for the outstanding job he has done with the national team during the World Cup that has earned us the result we know."
The west Africans were in arguably the toughest group at the finals alongside Brazil, Portugal and North Korea.
Diabate also denied reports that the 62-year-old was unhappy with the ambition showed by the Ivorian Football Federation (FIF), insisting it was not the reason he left.
"It's not true," he responded when asked about it. "Eriksson called us and renewed his thanks and greetings to the president of FIF and members of the executive committee.
"He remains convinced that the team of Ivory Coast has huge potential and a bright future.
"He told us that his deep and sincere desire was to continue with this team. However, he regretted that it was not possible.
"He said he had never granted an interview to anyone about our discussions and denied the federation lacks ambition.
"Instead, he praised the federation and although he has left, he remains our friend, just like we remain his."
The team's next game is a friendly against Italy on August 10 and Diabate is hoping to have a new man in place before they depart for the game in London.
He added: "The consultations are continuing. For the moment nothing is yet decided, but I think we will be able to name the coach soon.
"The executive committee are deciding between two or three candidates, who I cannot reveal. Everything should be finalised before our scheduled departure for London on August 7."
Copyright (c) Press Association
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