Jim Gannon has turned down the chance to manage Brighton, and will remain Stockport boss for the time being.
Seagulls chairman Dick Knight told their official site: "Jim had certainly caught my eye and we had a lengthy and interesting meeting. But it was a never a done deal, because it was a huge decision for him to leave a club he's served for so long as player and manager. It is disappointing he has chosen to stay with Stockport, but the process to find the new manager will continue over the coming days."
It will certainly be interesting to see how long Gannon remains as the Hatters boss after his comments earlier in the week that his position was 'untenable'. Stockport were understood to have agreed to Brighton approaching their manager for the compensation package that would have eased their financial worries.