"It's not going to happen," Peterson told The Associated Press on Wednesday. "I have a lot of good friends there, but I need to get away for a while. It's been 20 years of making decisions every day and I need a rest."
Ross's purchase of the Dolphins from Wayne Huizenga is expected to conclude soon. Ross owned the highly successful USFL team that Peterson ran, and the two have remained close.
"I have a 25-year friendship with Stephen Ross," Peterson told the AP. "But I have no plans to do anything right now but rest."
There has also been speculation about the future of Dolphins boss Bill Parcells, whose regime produced the turnaround that resulted in the franchise's first playoff berth in seven years. His contract allows him to leave the Dolphins and still collect the $9-12 million remaining on the four-year deal if the team is sold.
But following Sunday's loss to Baltimore, Huizenga said Parcells told him he plans to remain executive vice president of football operations. Ross has said he wants Parcells to stay.
Copyright 2009 by The Associated Press