Inter Milan have dismissed reports Andre Villas-Boas is set to become the club's new head coach.
It had been reported in the Italian press that Porto boss Villas-Boas, who was on the coaching staff at Inter during Jose Mourinho's first season, would replace Leonardo after agreeing personal terms.
However, Porto revealed last month that Villas-Boas has a €15 million release clause, and Inter sports director Marco Branca has now said he is not under consideration for the post.
He told Ansa: "It is only right for me to point out something that has been whipped up by understandable media speculation. All told, for some time everyone in the football world has well known the bond between Villas-Boas and Porto.
"He has a contract with a high buy-out clause, though that is not the only reason he is excluded from the list of candidates for the Inter bench."
Inter have been linked with a number of bosses following the announcement that Leonardo would depart for Paris St Germain, but have so far endured a frustrating search.
Marcelo Bielsa turned down the job for "personal reasons" and, on Friday, Sinisa Mihajlovic vowed to stay at Fiorentina. Fabio Capello appears unlikely to break his contract with England, while Guus Hiddink is expected to take over at Chelsea.
Former Palermo boss Delio Rossi, ex-Genoa coach Gian Piero Gasperini and Gianfranco Zola, most recently of West Ham, have also been touted as candidates, and Inter general manager Ernesto Paolillo said on Saturday that an announcement would be made before long.
"We will announce the new coach over the next few days," he told Sky Sport Italia. "We will soon tell you his name."
Gianfranco Zola's agent later claimed his client was in the frame.
Fulvio Marruocco told ilsussidiario.net: "At the moment we have not received any phone calls but rumours of Inter's interest in Zola do have foundation. Zola has been considered due to the difficulties the Inter management have encountered.
"Gianfranco is certainly flattered and would say yes.''
Former Italy Under-21 assistant boss Zola has been out of work since been sacked by West Ham in May 2010.