Mick Beale has turned down the chance to manage Wolves and will remain as QPR boss.
Beale, whose Rangers side are top of the Championship, had brief contact with the Premier League club on Thursday after Wolves made an official approach to speak to him.
He had indicated that he might reject Wolves if an offer was made – and has duly done so.
Speaking after Wednesday’s 3-0 win against Cardiff, he said: “If an offer comes in officially, you don’t have to take it. You have to weigh up everything. There are a lot of questions you need to get answers to.”
Asked if it would be difficult to walk away now QPR are top, Beale replied: “Yes. Football is about feelings and relationships. We’ve built strong relationships here.”
However, asked if he was flattered to be linked with a Premier League club, he said: “I did come from the Premier League to work here. I do know that level.
“I’ve worked for some of the biggest clubs, so I do know the expectations of those places.
“I felt over-ready for this job and I feel supremely confident in this job. It’s 100% a dream of mine to manage in the Premier League. That’s not a secret.
“But it has to be the right opportunity, the right moment and the right club. And they’d have to give me a really clear understanding of where that club’s going.
“When I was with (Glasgow) Rangers I turned down seven or eight chances to be a manager. There are some things I look for.”
Speaking to the Rangers website on Thursday, Beale said he felt it was “too soon” to move on.
“It’s been a difficult few days for me personally if I’m honest, because I was really focused on here and everything came a little bit out of the blue,” he said.
“These things really do snowball and then everyone has an opinion of you and what decision you’re going to make.
“It’s all come a little bit too soon. It is the aim for me to go and work in the Premier League, like it is all of our players, and the idea is to try and go there ourselves as a group.
“Wolves are a fantastic football club and a historic football club. It was a real privilege to be asked to go and speak to them but I didn’t think it was the right moment because I entered into an agreement here.
“The key thing for me was not going there, not even thinking about the temptation, and going to speak to another party because I’m in this relationship and I’ve asked for things from this club and they’ve tried to give me everything they can.
“Integrity is a real big thing for me, and loyalty. You don’t give it to receive it back, but I think if they are the values you live by then at times where you’re put in a position, you have to be strong by them.
“I don’t feel we are anywhere near where I want QPR to be. I’m enjoying working with them, we have a lot to do, but I’m excited by it.
“I know there will be some bumps in the road but I’ve been all in here, and I’ve asked other people to be all in, so I can’t be the first person to run away from the ship.
“I’ve got the opportunity here to build, along with everyone else, a really strong football club.
“I’ve said it to the players as well, try to achieve something that is significant in a football club before you seek other things. If you do that, there will always be people out there that desire you.”