Egypt's Olympic team coach Hossam El-Badry has finally declined an offer to take charge of his former team Ahly, after the Egyptian Football Association (EFA) refused to waive a hefty fee required to release him from his current job.

The 55-year-old tactician asked the EFA to leave his post amicably, but they insisted that he pay around LE 720,000, according to the release clause in his contract.

"I was ready to serve my old club Ahly in these difficult circumstances, but Ahly officials failed to reach an agreement with the EFA to release me without conditions," El-Badry told reporters on Monday.

"Despite the lucrative offer from Ahly, I won't terminate my contract with the EFA and I will remain on my national mission with the Olympic team."

"I want to thank Ahly management for their confidence in me," he added. "I will always remain a fan of the club."

EFA's spokesman Mahmoud El-Shamy said at a press conference Monday that the association's board had decided to keep El-Badry by majority vote.

"Ahly management officially asked the EFA to let El-Badry leave, and the coach informed us of his wish, but the board refused, preferring to keep him, especially after the recent achievement of reaching the All-Africa Games," El-Shamy explained.

Ahly's former Spanish coach Juan Carlos Garrido was fired after the record holders of eight CAF Champions League trophies on Saturday lost to Moghreb Tetouan of Morocco in the CAF's round of 16.

Earlier on Monday, Ahram Sports reported that El-Badry had reached an agreement with Ahly chairman Mahmoud Taher to lead the club until the end of the next season.

Former Ahly defender El-Badry for four years served as an assistant coach to the club's most successful manager Manuel Jose, winning a series of trophies before he took charge of the team in 2009-2010 and then again in 2012.

During his tenure as head coach, he helped the team clinch the Egyptian Premier League, Super Cup and the CAF Champions League.

Ahly's hopes of equalling their own record of winning the league title nine times in a row have been dealt a serious blow, as they are currently third in the table with 46 points, 11 points behind leaders and archrivals Zamalek.

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