Despite the shaky situation of his job security at Chelsea, especially after the embarrassing defeat by Watford earlier today, manager Antonio Conte is reportedly out of the running for the Italy Manager job, rejecting multiple offers by the Azzurri.

Antonio Conte not seeking Italy manager position

Despite being considered for the position by the new head of the Italian Football Federation (FIGC), Roberto Fabbricini as recently as last week, Conte has now been ruled out of consideration for the position by FIGC vice commissioner Alessandro Costacurta.

Conte "reiterated the other day, he wants to continue working as a coach on a day-by-day basis at club level for at least the next 18 months, the length of his Chelsea contract, so he has pulled out of the running," said Costacurta, according to The Metro UK.

Conte was the manager of Italy between 2014 and 2016, overseeing their Euro 2016 campaign where they lost to Germany in the Quarter Finals.

Costacurta told further explained that "The availability on the market will be a fundamental aspect in the choice of the future."

"(Roberto) Mancini himself is also under contract, so it's not as easy as it seems to be able to reach a name. It is true that we have a great talent at the level of coaches, but we need to assess availability."

Managerial search continues for Azzurri

The calamity which was Italy's failure to qualify for Russia 2018 cost Giampiero Ventura his job as he became the first man ever to fail at taking Italy to the World Cup.

Under 21's couch Luigi Di Biagio taking interim charge of the team for friendlies against Argentina and England next month and an announcement of a new manager to be made sometime in June, said Costacurta.

It will be a long road back to respectability for the Azzurri, who had triumphed at the 2006 World Cup in Germany but now are looking from the outside in this year.

The approaching friendlies will give some idea of how the team and the coaching staff handle having to wait another four years for a shot at redemption.

Conte on thin ice at Chelsea?

Thin ice may be too polite a metaphor, with rumblings about Conte's job security at Stanford Bridge turning into thunderous howls of late after their loss to Bournemouth last week and Monday night's embarrassing 4-1 loss to Watford.

Conte might not even be around before the end of the season, despite Manchester City running away with the title and most contenders already looking toward next season.

There are now reports that Conte has lost the support of the Chelsea dressing room and could face the sack if Chelsea are eliminated from the Champions League round of 16 by Barcelona. The first leg is played on February 20.