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He admitted to having discussed it with Milan Mandaric but said it wasn't the right club for him at this time. He went on to say that he would only return if it were a Premier League club or a club with real ambition to get there this year.
That appears to rule us out and it looks more likely that he's interested in the Wigan job. He's been out of work since the summer of last year when Ipswich replaced him with Jim Magilton, but prior to Ipswich his managerial career had been spent exclusively in the North West with Oldham, Everton and Manchester City.
At the age of 58 he hardly fits the profile put forward by Brendan Flood and it would be a big surprise if he were to be the next manager of Burnley.