Tottenham’s managerial search descended into chaos after talks with Antonio Conte broke down on Friday.
Spurs, who sacked Jose Mourinho in April, were in discussions to bring the former Chelsea manager to north London.
But they are understood to have been put off by certain demands made by the 51-year-old and will now turn their attention elsewhere.
His record is impressive, having also won the Premier League with Chelsea in 2017, but Spurs’ pursuit of him was at odds with what chairman Daniel Levy set out at the end of last season.
Levy said he wanted to return to the club’s “core DNA” which had been lost during the appointment of Mourinho.
Conte, while being an excellent coach, did not fit and reports in his native Italy say he also had reservations about joining.
The pair worked together at the Turin club and helped turn them into the dominant force in Italian football.
Paratici is expected to be involved in the search for a new manager.
Spurs have also been in talks with former boss Mauricio Pochettino about a return just 18 months after being sacked, but his current employer Paris St Germain blocked an exit and it would be difficult to reignite that.
Tottenham sacked Mourinho in mid-April, six days before the Carabao Cup final, and ended the season with 29-year-old academy coach Ryan Mason in interim charge.
