Liam Brady would be interested in the Republic of Ireland job should current manager Steve Staunton be sacked but dismissed his chances of landing the role.
Speaking on RTE Two's Champions League coverage he said he would consider the job if it became available and if approached by the FAI.
Before his comments tonight, Brady was considered a 20-1 chance (he is now 8-1) to replace Staunton but said a 200-1 quote from bookmakers would more accurately reflect his chances.
"It's a sad day because everyone wanted (Staunton) to succeed but it hasn't happened," said Brady who won 72 caps for the Republic of Ireland.
"They (FAI) should get somebody with a track record of success with football management. It doesn't mean at the top of the tree now because you wont get someone at the top of the tree."
Brady - who was interviewed for the Ireland job before Mick McCarthy's appointment - is the head of Arsenal's youth academy with responsibility for players between the ages of nine and 21.
He was also Celtic manager between 1991 and 1993 and then Brighton boss between 1993 and 1995, although neither spell was particularly successful.
Brady said the FAI should consider former Manchester United and Aston Villa manager Ron Atkinson and insisted the Irish job is still "attractive" despite missing out on Euro 2008 qualification.
