The 55-year-old Englishman, who was sacked by Newcastle in March, says he still has ambitions as a manager.
But he has recently enrolled at Manchester Metropolitan University in order to gain a Masters degree in Sporting Directorship.
"The next step in the future will be as a chief executive or sporting director, or even running my own club," he said.
"To do that I had to acquire different skills and go back to school. It's probably old age. I always wanted to coach and manage. I know that won't last forever."
"I still have a few years left in me yet on the field," he told BBC Sport.
"I have had offers from abroad, but nothing that appeals. I don't want to go to China. I feel I have something to offer here. If not here, then in Europe."