Sam Allardyce does not want to “mess about” if West Brom are relegated and will only stay if there is a realistic chance of promotion back to the Premier League.
West Brom go to Chelsea on Saturday 10 points behind fourth-bottom Newcastle with a significantly inferior goal difference and nine games left.
Their precarious plight has intensified talk around the future of Allardyce, who replaced Slaven Bilic in December.
His 18-month deal has a break clause.
Former England boss Allardyce says the terms of his contract are clear and if the Baggies survive, he will remain at the club.
However, in the far more likely event of them making an immediate return to the Championship following last season’s promotion, the 66-year-old outlined a less straightforward scenario.
“It needs both [sides] to agree what we are going to do,” he said.
“If one of us disagrees, we hold our hands up and say ‘thank you very much’. If we both agree to go forward, we get on with it.
“It’s a very complex situation to sit down and look at.
“How much money do they think they need to save? How many key players would they have to let go? What budget would be available?
“If I’m to stay at West Brom, I’d want to be getting them back in the Premier League at the first time of asking – like I did when I joined West Ham. I wouldn’t want to mess about.
“But we all need to be going in the same direction to do that.”