Coventry manager Mark Robins has agreed a new deal after the club rejected an approach from Sunderland for his services.
The Black Cats are searching for a successor to Jack Ross, who was sacked on Tuesday, but Robins will be staying with the Sky Blues on a "new and improved contract".
Robins took charge of Coventry in March 2017 and the 49-year-old led the club to promotion to League One the following year.
Robins, whose side are fifth in the table, told the club's official website: "On the back of the approach from Sunderland, the club reacted really quickly with a new contract offer and I am grateful to them for that.
"I had no intention of leaving – when I spoke to Dave (Boddy, chief executive), I was unequivocal in my desire to stay. We agreed it all within 24 hours and I'm delighted to accept the new contract.
"I'm fully invested in this process and this club. Everyone knows the feelings I have – I have got this club in my heart and want to continue the progress we have made.
"The challenges we have faced together we have met head on and will continue to do so for the betterment of the club.
"Our immediate aim is to get into the Championship, and to come back to Coventry as soon as possible for our supporters."