Louis van Gaal has confirmed he intends to retire from coaching despite the former Manchester United manager receiving an offer to manage a club in Asia where he would have earned £44m in three seasons.

The Dutchman, 65, has been out of work since leaving Manchester United in May – just two days after he led them to victory in the FA Cup final.

Despite initially stating that he was keen to work again after two years at Old Trafford, Van Gaal told the Dutch newspaper the Telegraaf on Monday that “events in his family” have persuaded him not to despite the chance to earn a lucrative salary overseas.

“I could go there, but I’m still here,” Van Gaal said. “So much has happened in my family.”

Van Gaal also managed Ajax, Barcelona, Bayern Munich and Holland in a coaching career that began in 1991. He said after leaving United that he was interested in coaching again, but that door now seems to have closed.

The report said that last month one of his daughters lost her husband, and that has weighed heavily on his decision. “I thought maybe I would stop, then I thought it would be a sabbatical, but now I do not think I will return to coaching,” he said.