Sven-Goran Eriksson's agent Athole Still today claimed it is "looking odds against" the Swede still being manager of Manchester City next season.
Eriksson's future role at Eastlands has appeared uncertain in recent weeks since club owner Thaksin Shinawatra publicly expressed his dissatisfaction at how City's season has fallen away.
They have won just four in their last 15 games.
Still told Sky Sports News that he believes it is unlikely Eriksson will stay, although he was adamant the former England boss will not "walk away" from the post.
"That's the way that it's looking - believe me I don't know, I am just giving an answer and a reasonably-formed opinion - it's looking odds against," said Still after Eriksson met Thaksin on Sunday for what had been previously been described as "cordial" talks.
"It's just developments over the last couple of days. If Dr Shinawatra was going to give his ringing support we would have heard it over the last couple of days."
He continued: "I could be wrong - I hope I am wrong because there is a job half-done there and I have no doubt that Sven-Goran Eriksson left to manage in the way he manages and to select his own players who he purchased, would have been challenging UEFA next year or maybe even higher."
Still, though, insisted the Swede would not be resigning, saying: "The only thing I can say with assurance is that Sven-Goran Eriksson will not be walking.
"You walk if you feel you have done a bad job and are not worthy of the position and in Sven's case that is very, very far from the truth."
The agent revealed Thaksin and Eriksson had had little contact either in person or by telephone over the last few weeks before they met at the weekend.
During that time, Thaksin criticised the club's recent poor run and Still admitted his client had been unhappy by its public nature.
"At the time the story broke in the media 10 days ago when Thaksin made some comments about being dissatisfied with the team and indirectly with Mr Eriksson and Sven was very unhappy about that in the sense that if there is dissatisfaction it should be discussed internally first and not in the media."
Should Eriksson find himself out of a job, Still insists it would not mean he would leave England but would instead look for a challenge anywhere in Europe.
"He is not that kind of man, people talk of him not having passion - absolute rubbish.
"Passion does not need to be displayed in a histrionic manner, he is extremely passionate about the game, extremely proud.
"Categorically, if the right job was available, the right challenge - he likes challenges which is why he went to Manchester City.
"If the right job comes along in England, Spain, France, Italy if its a really good club with a chance of doing something he will be there."