The South African Rugby Union have since confirmed that meetings have been held with Meyer, who has coached the Bulls to four Cup titles and a Super Rugby crown.
"The Blue Bulls Board reiterated its position that Meyer is under contract with the Blue Bulls Company and had appointed Meyer as Executive Rugby, only after an undertaking and commitment by Meyer to lead Blue Bulls rugby over the next four years," read the statement.
"It is the Blue Bulls Board's position that it would not be in the Blue Bulls interest to release Meyer after many resources and commitments have been made in order to enable Meyer to fulfill his mandate.
"Should Meyer however decide to accept the position of National Coach, he needs to inform the Blue Bulls Board of his decision to abdicate his responsibilities and commitments to the Blue Bulls.
"Although the Blue Bulls Board would be disappointed with such a decision by Meyer, the Board has faith in the coaching structures under the leadership of Frans Ludeke in taking the Bulls into the future."
Meyer had initially been second favourite for the Springbok role behind current Ireland forwards coach Gert Smal.
Smal remained the favourite until last week but rumoured ranglings over his contract have apparently seen the SARU turn to Meyer.
Meyer had originally been expected to become Bok coach as far back as 2008 when he was the odds-on-favourite to replace World Cup winner Jake White.
But the SARU opted for de Villers instead, with Meyer so disappointed with the decision that he quit coaching to go into business before later accepting a position with English giants Leicester.
Meyer returned to South Africa after less than a season in charge at Welford Road due to family matters in January 2009 and now looks like finally achieving his ambition of coaching his country.