He was linked with a move to Dundee United after the recent sacking of Alex Smith.

Paterson was initially quoted as saying he might be interested.

But, after Caley Thistle defeated third top St Johnstone to move to within four points of First Division leaders Falkirk, Paterson said: "My ambition is to manage at as high a level as I can.

"I aim to be here for a while yet."

United chairman Eddie Thompson has given Paul Hegarty the chance to prove his worth by stepping up from coach to caretaker boss.

The Tannadice outfit have since lost one and drawn one to lie bottom of the Scottish Premier League.

Hegarty is likely to be out of a job should United fail to beat Airdrie United in Tuesday's CIS Cup tie.

Paterson could be a target, Thompson having praised the Caley Thistle boss before launching his doomed bid to prise Ian McCall from Falkirk.

But Paterson said: "Paul Hegarty has been given the opportunity to take the job and it is unfair to speculate.

"If nothing else, it acts as a lever for contract talks with my own club.

"If another club wants a manager, they have to approach his club."

Paterson has led Caley Thistle from their formation as an amalgamation of two Highland League clubs and taken them from the Third Division to the First.

He now believes that he might have to fulfil his ambition of managing in the SPL with Inverness, who have now pushed themselves firmly into the promotion race.