Japan coach Eddie Jones is negotiating with the Stormers to take over as their head coach for the 2016 Super Rugby season.
A report in Monday's Cape Times revealed that the former Wallabies coach will be unveiled as the new Stormers boss next week on a two-year contract worth five million rand (£248,099) per year.
The report also suggested that Jones will continue in his role as coach of the Japanese national team.
But Jones – who was an assistant coach with the Springboks during their victorious 2007 Rugby World Cup campaign and who also had a spell as Saracens' director of rugby – revealed that he hasn't signed any contract with the Stormers, although he is exploring his options.
"I am chatting with (the Stormers) but that's the extent of it," he told Japan's Kyodo News.
"I am off contract in 2015 and I'm looking at my options.
"Players and coaches sign contracts and do everything they can until the contract comes to an end. But you need to look elsewhere when your contract is coming to an end. That's professional rugby."
The 55-year-old, who won the Super Rugby title as the Brumbies' head coach in 2001, said he was always drawn to the appeal of doing something different.
"That's why I came to Japan after coaching in England," added Jones.
"No Australian has done anything in Japan. I like new challenges and that's why I am chatting with them."
Allister Coetzee, who coached the Stormers in 2015, has left the Cape Town-based franchise to coach the Kobe Kobelco Steelers in Japan's Top League.