Speaking to Sky Sport, the former Italy goalkeeper explained what led him to walk away from an offer that had genuinely tempted him.
"They were certainly two people who made me question my official decision. But then I wanted to try to stay consistent with what I was feeling and what I needed. I really thanked Paolo and Leo, it wasn't something they owed me: they were generous and kind to me, along with president (Giovanni) Malagò."
Asked directly whether Italy had missed an opportunity by not going down that route, Buffon was careful not to overstate the case.
"I don't know. It depends on what the objective was: opportunities are only missed if you know where you want to go, otherwise you're talking about nothing. I have no idea, since I wasn't there, what the plan was supposed to be, so none of us knows what was actually missed.
"Clearly, we had two top names who guaranteed the highest level. But the same applies to someone serious and professional like Ranieri, and to a technically capable coach like Mancini."
He was also pressed on why Antonio Conte was never approached for the role.
"I never asked myself that, those were decisions other people had to make, and in the end something different was done. Probably in those people's minds, Antonio Conte wasn't considered plan A. But there too, you have to weigh things up: when you choose the path to take and the people who can be useful for it, you also have to think about budget.
"Then with (Pep) Guardiola, people entertained the dream that there wouldn't be any budget issues; but these assessments have to be made based on what resources you actually have."