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In a statement issued on the club's official site, Burley informed The Lions that he has decided not to continue negotiations with chairman Jeff Burnige.
"George was thankful for the interest," read the statement. "But has decided that this is not the challenge for him at the present time.
"Our chairman Jeff Burnige felt that George was an outstanding candidate who had to be checked out, and I know that they had a very amicable meeting. He wanted to find out whether George was ready to jump straight back into management, so soon after leaving Derby."