Former Hungary national team coach Lothar Matthaeus has revealed that he has called off talks with Argentine side Racing Club, who wanted him to become their new coach.

Racing announced at a press conference at the weekend that the former Germany captain was going to take the reigns of the beleaguered club.

However, the 48-year-old has now made it clear that he has called off negotiations. Matthaeus left his job in charge of Israeli side Maccabi Netanya back in April and has since been out of work.

A statement on his official website read, "Contrary to different press reports, Lothar Matthaeus has not travelled to Argentina and has called off the discussions with the Argentine top-flight team Racing Club in Buenos Aires for different reasons. A further statement will follow in the coming days."

Stefan Coerts, Goal.com