Cheika took over from fellow Australia Dan McKellar last summer, with Tigers turning to the former Champions Cup-winning boss after they finished third from bottom of the 10-team Premiership.
The job in the East Midlands was Cheika’s first in club rugby for a decade.
His time away from the week-to-week demands, as well as the speed of the appointment, are among the reasons why he committed to only a year.
“I signed a one-year deal for a reason, because I didn’t know what was going to happen,” he said.
“It was very quick, the whole thing, and I didn’t know how this would roll out with my family and then also with me.
“I’ve really enjoyed it, I’ve enjoyed everything – the footy, being in England. It’s been good, I’d never lived here before and I’ve really enjoyed it, and also the fans – they have been some of the best fans I have been around.
“And therefore my original stance, which is where I’m still at, is that it’s difficult to stay to that.
“I’m trying to find a way that it could work going forward. So when we are talking about negotiations, it’s about trying to find a way that it could work for me and for the club.”
Tigers, who are fourth in the Premiership table, are back in league action against Gloucester on Saturday.
A two-month break in top-flight action will follow that to accommodate the Six Nations competition.
