DUTCH club Ajax have confirmed that manager Martin Jol will not be leaving to take over the vacant manager’s position at Fulham.

Jol seemingly became frustrated by financial constraints at the Amsterdam outfit, and his desire to manage back in the Premier League installed him as the hot favorite to take over the post at Craven Cottage.

But compensation talks at Ajax stalled, with the Eredivisie club intent on retaining the 54-year-old’s services.

“Ajax let me know they didn’t want me to go,” Jol told the club’s official website. “And I don’t think I can bring myself to leave Ajax at this time. I came here last summer to be successful, to build a good team and to have fun - and those three things are what I am interested in achieving next season.”

The news is sure to strike a severe blow to Fulham, who will now have to look elsewhere for Hodgson’s successor after he left for Liverpool.

Ajax chief executive Rik van der Boog was astounded by how the speculation surrounding the Dutchman’s future spiralled in the way it did; “I find the publicity almost laughable and I have wondered ‘what is this about?’, he is under contract with us and his relationship with the club is good.”