Guus Hiddink declined an offer from Leicester City to become their manager before they offered the job to Claudio Ranieri.
Hiddink is currently Chelsea's interim manager.
Ranieri was a surprise appointment when Leicester confirmed that he would succeed Nigel Pearson at the King Power Stadium last summer.
"It is true that Leicester asked me [to be their coach] for this season," Hiddink told Dutch newspaper De Telegraaf. "But I had decided that it was a time for rest, and I wanted to just do nothing."