The Foxes were relegated from the Premier League on Sunday following their 1-0 defeat to Liverpool and Van Nistelrooy admitted that he is not sure whether his future lies with the club now there place in the Championship next season is confirmed.
"I'm waiting on the clarity of the club and how they want to continue," he said, before insisting he wanted to carry on in his role. "It is the goal to lead the club. I have to wait on how the club sees things and take it from there."
After already sacking former manager Steve Cooper in November, the Dutchman could be the second head coach to leave in what has been a dire season for the club. Captain Jamie Vardy has described his club's campaign as "miserable" and a "total embarrassment" after their relegation from the Premier League which highlights the frustration from players despite their promotion last season.
"No words I have can ever express my feelings of anger and sadness with the way this season has gone. There are no excuses," Vardy wrote on social media.
"Having been at this club for so long, we've experienced so many highs and successes - and this season has been nothing but miserable and for me personally, a total embarrassment. It hurts, and I know you're feeling it too.
"To the fans: I'm sorry. Sorry we haven't performed."
Fabregas is currently in charge of Italian side Como and has taken the club to 13th in Serie A. The Spaniard could be the saving grace for Leicester as reports grow suggesting that he will make a return to the English top flight. Leicester still have five games to go in this Premier League season, and whether Van Nistelrooy will be at the helm for their next game against Wolverhampton Wanderers is unclear.