The club appointed the Everton academy chief Alan Irvine as Pepe Mel’s successor on Saturday.
“I went to speak to the chairman and the board there a couple of times and was happy with how the discussions were going,” he told TalkSport. “I was offered the job before we started to negotiate. It just wasn’t right for me in the end, so I decided to give it a miss.
“It is a fantastic club and it looked on the outside like it might be a perfect fit for me but unfortunately we couldn’t agree for me to move forward. I wish them all the best and Alan in particular, someone I played with a long time ago at Blackburn.”
Irvine accepted the job at The Hawthorns after agreeing to keep on the coaches Keith Downing and Dean Kiely, and Sherwood suggested that was one of the reasons he did not take up the offer.
“I don’t know Keith or Dean very well and I’ve got nothing against them,” he said. “I think it is important you take your own men in and I was looking to bring in a couple of guys who I trust and who I know.
" When you go into a club you haven’t got time to try and train someone to your own thinking. There were just a couple of ingredients missing which made me decide I wouldn’t take the gamble on it. I know my worth and I just want to wait for the right opportunity. I am sure it will come along.”
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