Smith decides against QPR return
Jim Smith has held talks with QPR but will not be making an emotional return to the club as manager.
QPR suspended manager Ian Holloway on Monday after a poor run of results and following links with the Leicester job.
Smith, 65, was widely reported to be making a return as director of football to Loftus Road - where he was manager for three years in the 1980s.
"There have been talks and I've decided things are not right for me there at the moment," he told BBC Sport.
"It's been a very hard decision for me. I more or less said 'yes' to QPR and then I've had to say 'no' - it's that close and I feel a bit sad about it but I just felt it wasn't right.
"I'm not going to be involved there."
Smith guided the club to fifth in the old First Division in 1988 before leaving later that year for Newcastle.
He rejected suggestions he was set for a director of football role at the club, adding: "I've never wanted to be a director of football in my life. I don't even know what he does."
Smith, who did not rule out taking over at QPR once the situation with Holloway is cleared up, has been out of work since his contract was not renewed at Southampton in May 2005.
He has since had talks with Bristol Rovers and been part of a consortium trying to take over Oxford United.
But he said he was in talks with other clubs, adding: "It's a funny life. There are no buses then suddenly three come at once."
