Olic was linked with Liverpool following his impressive displays with Croatia in last month's EURO 2008, but the skilful forward seems settled in Hamburg.

"I cannot be bothered to move again. I am staying in Hamburg," the 28-year-old told Hamburger Abendblatt newspaper.

The former CSKA Moscow man follows the steps of HSV skipper Rafael Van der Vaart, who backed down on his exit plans after compatriot Martin Jol arrived as new coach.

Olic hit 14 Bundesliga goals last season, as his fine form overshadowed the presence of Egypt forward Mohamed Zidan.