Denizli, who has worked in the past with Iranian teams namely Pas and Persepolis, said he is under contract with the Turkish team and refused to return to Iran.
The Iranian team’s officials originally wanted to convince Fatih Terim to lead their team, but the former Turkey coach declined.
Steel Azin then offered Denizli in his home in Istanbul the considerable amount of $7 million, but the 61 year-old said no.
Steel Azin’s offer is 2.5 times more than what Denizli receives from Besiktas.