Sunderland have been looking for a new manager since they sacked Lee Johnson following a poor defeat at Bolton Wanderers earlier this month.
Keane emerged as the early contender to become the next Sunderland manager and he was claimed to be the top target for the board.
Talks were ongoing between Keane and Sunderland from last week and there were suggestions that a deal could be agreed upon soon.
Sunderland were hoping to finalise the appointment by next weekend but it has been claimed the 51-year-old is no longer in the race.
Despite being the clear favourite and being claimed to have been offered the post, the talks between Keane and Sunderland have not led to a deal.
Sunderland will now be looking at other targets after failing to reach an agreement with the former midfielder.
Former Celtic boss Neil Lennon has also reportedly been on the Black Cats’ radar for their manager’s role.
Sunderland were hoping to have a new manager in place before their visit to Wimbledon this weekend and it remains to be seen if they can make that timeframe.
