Reports claimed 56-year-old Rajevac was ready to return to his native Serbia and replace Radomir Antic, who failed to lead the country beyond the group stages of this year's World Cup.

Rajevac led Ghana to the last eight in South Africa, and management agency Virtus International say the coach is looking to extend the contract he has, which expires at the end of August.

A statement from Virtus International said: "Milovan Rajevac is fully contracted to be the coach of the national team of Ghana and at no time has he or his representatives spoken to the Serbia Football Association about taking over the job of coaching the Serbian national team.

"In fact we have started talks with the Ghana Football Association over his expiring contract and we have given our words with the Ghana authorities over this.

"Mr Rajevac is a man of honour and will not renege on the promises he has made to the Ghana Football Association.

"Even though Rajevac has not extended his contract with Ghana yet, his words to the Ghana FA over his new contract is stronger than his signature."

Rajevac has been coaching Ghana for two years, and led them to a runners-up finish at the African Nations Cup in Angola earlier this year.