The story says that the Bolton boss will be allowed to leave the Reebok Stadium for a fee of around £250,000 should one of these high profile positions become available in the future.
Yesterday Allardyce told BBC GMR that if a big job became available then he would have to give it some serious consideration, even though he knows that will not go down too well with those at Bolton.
"Without wanting to upset the fans or the chairman, you have got to understand that situation would be probably impossible to resist.
"Everyone would have to look at it sensibly and think how often something like comes your way in a lifetime. If the opportunity arises you have to put aside what everyone else thinks."
"If you spend one too many years at a club it can turn out sour and bitter, Things you have done in the past and what you achieved get forgotten. You can find yourself out on your ear."
But Wanderers fans should hold no fear as Allardyce has promised he will see out the job he started at Wanderers with his main aim being to retire at the age of 55.