Roman Abramovich is keen to bring the Dutchman back to Stamford Bridge, with Andre Villas-Boas, Marco van Basten and Rafael Benitez added to the list of summer replacements
Hiddink has been tipped as favourite to succeed the almost certain to depart Carlo Ancelotti at Stamford Bridge, where he won the FA Cup in his brief stint in charge in 2009.
Chelsea owner Roman Abramovich has already approached the Dutchman about the possibility of returning as sporting director, as exclusively revealed by Goal.com on Thursday.
Yet the Turkish top brass expect the 64-year-old to remain in charge until the 2014 World Cup, regardless of whether or not the national side qualify for the 2012 European Championships.
Speaking to The Telegraph, senior national team communications manager Turker Tozar said: “Only last week we refused an approach for him from Ajax and the contract between him and our president [Mahmut Ozgener] does not allow him to work for a club while he is working for the Turkish national team. There is a specific clause and our president would look coldly at any attempt to change that.
“We understand that people like Roman Abramovich have him in mind but if he made an offer to us it would be refused.
"If you look at Guus Hiddink’s career he has always fulfilled his contract and he has also told us that Turkey could be his last stop as a coach. We would like him to take us to the 2014 World Cup finals.”
Hiddink may have unfinished business in Turkey, having been sacked by Fenerbahce in 1990, something which Tozar suggested meant the 64-year-old “wanted to prove himself" in the country.
Should Chelsea not get their man, a number of other leading figures are also in the frame. With Porto boss Andre Villas-Boas and former Netherlands coach Marco Van Basten also being considered, Rafael Benitez and out-of-contract Fulham boss Mark Hughes remain outside bets.
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