Manuel Pellegrini will not decide on his future until Malaga's existence in Europe is decided, according to reports.
The Andalusian side have been banned from taking part in any European competition next season because of their financial dealings.
But the club have appealed against that decision, meaning the Chilean Coach is still undecided on where he will be next term.
Marca have claimed that the former Real Madrid man will only make a decision on whether to leave La Rosaleda based on the success, or otherwise, of the appeal.
Pellegrini has been linked with Roma, Manchester City and Chelsea in recent months, with his agent admitting in February that they had declined an offer from the Serie A side.