Steve McClaren was reported to be on the brink of leaving Derby after holding talks with senior club officials on Thursday.
It is understood former England manager McClaren met with chief executive Sam Rush.
The Telegraph reported McClaren's time in charge was to be brought to an end in the meeting. It was not clear whether his exit was finalised, with no statement forthcoming from the club.
McClaren's future became a topic for debate following Derby's dreadful collapse towards the end of the season.