The former Aston Villa boss hopes to continue his managerial career at the top level.
Steven Gerrard has rejected a lucrative offer from Al-Ettifaq to become their next manager.
Saudi clubs have entered the transfer market by making a host of big-money offers ahead of the next season. But their targets are not limited to players.
Gerrard emerged as the main candidate to take charge at Al-Ettifaq, with the Saudi side making a formal offer last week. However, he has decided to reject the bid after travelling to Saudi Arabia and negotiating with the club.
“I was invited over there to look at a potential offer, which I did,” Gerrard told Channel 4.
“I have been analysing that over the last couple of days. But, as we stand right now, I won’t be taking that offer up.”
Following a fantastic spell in charge of Rangers, Gerrard took charge at Aston Villa as his first Premier League club last season.
Villa made a brilliant start under the former Liverpool legend but suffered a significant dip in form later on. Gerrard’s team was in the relegation zone when the club sacked him in October last year.
Since then, Gerrard has stayed out of work despite receiving several offers. The latest club to show interest in signing the 43-year-old is Leicester City, who parted ways with Dean Smith after their relegation from the Premier League.