Aldershot manager Dean Holdsworth has turned down a chance to take over at newly promoted Crawley Town.
Shots chairman Kris Machala confirmed Holdsworth had rejected an "overwhelming" offer and was staying with the League Two club.
Holdsworth said: "I have got a lot of ambition but at this moment in time that is making Aldershot Town Football Club a better place to be and work.
"I will try to fulfil an ambition of getting the team into the play-offs."
In a statement on the club website Machala said he wanted to thank the former Wimbledon striker "from the bottom of his heart".
"Dean is highly regarded within the game and could have taken the opportunity to move. He received an overwhelming offer that would have been beneficial to him both on a personal and professional basis," said Machala.
"I am delighted Dean has chosen to remain as manager of Aldershot Town Football Club and I have to place on record my sincere appreciation to an individual who has proved his loyalty and integrity.
"We have a close bond throughout the club and are all genuinely excited as we enter the 20th year of Aldershot Town FC.
"We hope that the strength of our ambitious manager's decision will continue to show that there is a solid and settled infrastructure at the club and that the confidence in how the organisation is operated will bring more supporters to come along and watch league football at the EBB Stadium for the new season.
"We continue to be committed in doing our best for the benefit of our supporters."
Crawley director of football Steve Coppell is understood to have spoken to Holdsworth - who signed a one-year extension to his Aldershot contract last month - about taking over from Sean O'Driscoll at the end of last week.
But unlike O'Driscoll, who chose to move up a division to take over at Championship side Nottingham Forest, Holdsworth has chosen to stay at a lower level.
Holdsworth added: "It is important that people see my loyalty. It is strong and I am looking forward to the coming season."