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Unai Emery said on Wednesday he has decided to stay at Villarreal, despite interest from Newcastle to appoint him as their new coach.
Emery appeared open to a return to the Premier League on Tuesday night, when he admitted there had been "interest" from Newcastle. He added that if an offer arrived, he would speak to Villarreal president Fernando Roig.
But the former Arsenal manager ruled out the possibility on Wednesday, confirming he will remain at Villarreal, where he is in his second season on the back of winning the Europa League last term.
"No matter how much noise there was yesterday in another country, within the club there was transparency and loyalty with the Roig family and with my staff, which is the most it can be and for me the most important thing," Emery said in a statement.
"Villarreal is my home and I am 100 per cent committed. I am honestly grateful for the interest of a great club but even more grateful to be here and that is why I communicated to Fernando Roig my decision to continue being part of this project because of the commitment and respect that I have from the club and from my players, which is mutual.
"I want to thank the fans for the support they have always shown me. On Sunday we have a very important game and I hope that all together we can get the victory. See you at la Ceramica."
Villarreal's 2-0 victory over Young Boys on Tuesday put them in sight of the Champions League last 16.
They are level on points with Manchester United and two ahead of Atalanta in Group F.
Yet the team's form in La Liga has been less impressive, with two wins from their opening 11 games this season leaving Villarreal 13th in the table.
Newcastle have enormous financial backing following the club’s Saudi-backed takeover and are looking for a replacement for Steve Bruce, whom they sacked as coach last month.
The team sit 19th in the Premier League and are yet to win this season.