Alan Pardew says he is waiting for the right job offer to come along before he returns to management.
The former Reading, West Ham, Charlton, Southampton and Newcastle boss, last coached Crystal Palace before his dismissal in December 2016.
With a number of unmanned clubs actively searching for a new manager, Pardew isn't short of options, and has recently been linked with relegated Sunderland.
It would be unlikely though to see him return to one of Southampton and Palace, who are both on the lookout for a new head coach.
Speaking to Sky Sports News HQ, Pardew said: "As a manager, you have to wait for that phone call to come and then you have to make a decision whether the project's going to be right.
"You don't want people to get the sack but unfortunately when you're out of work you have to keep an eye on things and see where the course is going."
He added: "It will be a big year for the Premier League this year. There's big money in it so it has to be spent wisely.
"People will be looking and there will be mistakes made so hopefully I can come and help when that happens. There are a couple of people I've spoken to but nothing just as yet."