"It never got to the type of talks people are suggesting - but it wasn't for me. I politely said 'no'."
British media reported former Manchester United defender Steve Bruce is among the frontrunners for the Newcastle hot seat and Allardyce believes the Sheffield Wednesday manager would relish the opportunity to take up a fresh challenge on Tyneside.
"If he gets offered the job I'll think he'll jump at the chance," Allardyce said. "I think it would be one of his dreams to manage his hometown club."
(Reporting by Hardik Vyas in Bengaluru Editing by Toby Davis)