Peterborough United will not approach Rotherham United boss Steve Evans over their vacant managerial post, says chairman Darragh MacAnthony.
The 52-year-old, who took the Millers up to the Championship last season, had been linked with the job after Darren Ferguson's dismissal on Saturday.
But Evans is contracted at Rotherham until 2017 and MacAnthony says he will not pay compensation for a new boss.
"There's no way I'm paying a fee," he told BBC Radio Cambridgeshire.
"There's enough people out there to seek out without having to fork out compensation.
"Steve Evans is employed by a football club but if he wasn't, of course he'd be someone I speak to because of his record. But that goes for a lot of managers in that position.
"You've always got to have a list, call it a dream list, so you ask if you didn't have your current manager who would you have?
"Some of them are with clubs so there's nothing I can do."
|Steve Evans' managerial record|
|Rotherham||April 2012 - present||148 games: 65 wins, 40 draws, 43 defeats|
|Crawley Town||May 2007 - April 2012||266 games: 128 wins, 68 draws, 70 defeats|
|Boston United||Oct 1998 - July 2002 and March 2004 - May 2007||305 games: 119 wins, 87 draws, 99 defeats|
Scotsman Evans guided Crawley Town to promotion to the Football League in 2011 before leaving to join Rotherham a year later.
He took the Millers up to the second tier of English football via the play-offs in May and they are currently 21st in the table, three points from safety.
Meanwhile, Peterborough's run of one win in five League One games, which cost Ferguson his job at the weekend, leaves Posh 15th in the table.
Speaking about Evans, who owns a house in Cambridgeshire, MacAnthony added: "We have a brilliant relationship. He comes to our games, he's a fan.
"He's done an amazing job with Rotherham. But you have to tread carefully as people put two and two together and get the wrong number. It upsets fans and rival clubs and that's not my intention."
Evans responded to the Posh link before Tuesday's game with Watford, telling BBC Radio Sheffield: "I can't deal with what ifs.
"I work for a great man in Tony Stewart. He's not only my chairman and boss, but he's one of my best friends.
"So I'm not sure there will be an approach, like everyone is getting carried away with. If there is, my chairman will deal with that appropriately."