Zidane, currently an assistant to Carlo Ancelotti at Real Madrid, has been heavily linked with the coaching position at the Stade Chaban Delmas after Francis Gillot confirmed he would not be renewing his contract with Bordeaux earlier this month.
Club president Jean-Louis Triaud revealed on Wednesday that they have been in contact with the 41-year-old, but have not been able to secure the services of Zidane, who was part of France's FIFA World Cup winning side in 1998 and played for Bordeaux between 1992 and 1996.
"I won't deny that there were contacts, many. Unfortunately we couldn't put everything into place to recruit Zidane. I can confirm that he won't become Bordeaux's coach," Triaud told RTL.
"It's a number of things, the conditions weren't right, that's all. When it's not going to happen, it's meant to be. We have to turn the page and move on.
"You can't ignore, after all, that two of his sons are in Real Madrid's youth team academy, that his family is very settled in Madrid, where they have lived for nearly 11 years. It's a complex situation."
With Zidane out of the running, France Under-21 coach Willy Sagnol is now the favourite to take charge of the six-time Ligue 1 champions.
The 37-year-old Sagnol has been in his current role since July 2013, but is expected to sign a two-year contract with Bordeaux.
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