The La Liga outfit sacked Gary Neville on Wednesday, and it was thought talks were held with Mourinho to succeed the former Manchester United defender.
A source close to Mourinho said last night: "Jose does not want to return to Spain at the moment. He feels that his future lies elsewhere."
James Rodriguez has had a swipe at Real Madrid, claiming he feels more comfortable playing for his country Colombia.
United are tracking the midfielder, with Real thought to be demanding a fee of £63million.
But during the international break, Rodriguez claimed he gets more ‘support’ when he plays for his country than when he does for his club.
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Jose Mourinho's next job is unknown
“When you play and have the support of everyone, it makes a difference," Rodriguez told Spanish paper Marca.
“I wanted to have scored, but I am happy with these two games."
Bastian Schweinsteiger has emerged as a summer target for Fenerbahce, according to reports.
Bastian Schweinsteiger - Spotlight on
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