Newcastle United director Amanda Staveley went "above and beyond" to lure Unai Emery into the Toon hotseat - after the former Arsenal boss was made a "phenomenal offer" to spearhead the new era on Tyneside.
Chronicle Live understands that the 50-year-old was offered a rewarding package and a three-year deal to help transform the club from relegation fodder into a sturdy top half team.
Indeed, Emery would have been one of the highest-paid United managers in the club's history with a deal that would have potentially eclipsed the £6million a year contract of Rafa Benitez.
A source told us: "The new owners could not have done more to bring Emery to St James'.
"They went above and beyond and Emery was made a phenomenal offer."
It is understood that Emery would have also had a competitive kitty to spend in January as Newcastle look to strengthen in the next window.
But having held talks, the Villarreal boss opted against the job, citing issues with the club's current structure and the fact that Eddie Howe had made the top two.
Those close to Emery say he disputed how the club's structure could work for both himself and Howe.
Emery himself said today: "I am grateful for the interest shown by a great club but I am also even more grateful to stay here."
Yet Newcastle chiefs now feel Emery's pedantic reasons for turning the job down can be part of a learning curve for the new powers that be.
While there is disappointment behind the scenes the mood is still one of determination to land the right man for the job.
They hope to quickly move on from the snub and bring in a new head coach in due course.
Newcastle have interim coach Graeme Jones on standby to face the media on Friday ahead of the trip to Brighton & Hove Albion.
