Speaking on Goals on Sunday, O'Leary said: "If I get the right offer I will go back into a job. I think what Sam Allarydce did there [Bolton] was absolutely fantastic. I think it was the right time for Sam to go, personally I think he had gone so far.
"Whoever was going to go in there was always going to have a hard job following on from that. It's a good club that is a lot better than where it is. I am so sorry for Sammy Lee, I don't know what happened there.
"Any time I have met Sammy I have always found him a very nice gentleman. Bolton is a good club without a doubt."