David Moyes would accept an offer to return as Everton manager, but hinted he has interest from other clubs.
Everton sacked Ronald Koeman last month after a 5-2 defeat to Arsenal left them in the Premier League's bottom three.
Speaking to beIN SPORTS, he said: "Of course it would have to be yes, but I've got other things ongoing and it might not be too long before I'm back in work.
"If the job came up I would be interested, but I've got other interests as well.
"Bill [Kenwright] is one of the best chairmen so anyone who does get the job will be working with a really good chairman who's incredibly supportive.
"I had 11 great years there – I loved it.
"Sometimes going back isn't always the answer but Jose Mourinho went back to Chelsea and won the league, and now Jupp Heynckes is back at Bayern Munich.
"I'm a better coach and better all-round manager. I think in football you have to go through difficulties."
Asked why he thinks Everton have struggled this season despite bringing in the likes of Wayne Rooney, Gylfi Sigurdsson and Davy Klaassen during the last transfer window, Moyes said: "I'm amazed because I had them down to be top six.
"I think they've bought good players, but I'm not sure if they've bought all the right pieces and I don't expect them to be where they are right now."
"Nobody has approached me and I am staying focused on the next match," the Hornets boss said ahead of Watford's trip to Everton on Sunday.
"We need to respect our club, our opponent and our sole focus is to prepare our players for the match on Sunday, and do the best we can to win."
