Madrid - Greek giants Panathinaikos have rejected the conditions laid down by Michael Laudrup to become their new coach, Marca reported on its website Friday.
Two weeks ago Laudrup was offered a two-year contract by the Athens club worth around 2.5 million euros (3.86 million dollars) and appeared ready to accept the deal.
But according to Marca, the Danish coach insisted on a clause in his contract stipulating that he could leave Panathinaikos without compensation if he received an offer from a major Spanish club.
The Greeks have refused to accept this clause and are looking for an alternative coach, possibly former Ajax coach Henk Ten Cate, who is out of contract after being sacked along with Avram Grant by Chelsea.
The collapse of the Panathinaikos deal could lead several Spanish clubs to renew their interest in Laudrup.
He has a good reputation in La Liga after just one season at Getafe, whom he left in 14 place and guided to the King's Cup final. (dpa)
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