Speaking in front of an intimate crowd of around 150 Black Cats fans at a Q&A in Roker, Phillips announced his ambitions to pursue a career in management with a view to hopefully one day taking to the dugout at his beloved Sunderland.
Phillips said: “Hopefully, if I make a name for myself as a manager, maybe one day I could manage Sunderland.”
Phillips netted 30 goals in one season during the 1999-2000 Premier League campaign earning the Golden Boot whilst also becoming the only ever Englishman to win the European Golden Shoe.
Following relegation at the end of the 2002-2003 season, Sunderland needed to cut the wage expenditure at the club and were forced to let their star man go in order to balance the books.
Phillips told Sunderland fans that his time at the Stadium of Light had been the "best six years of his career".
Also revealing: “I would have loved to have played 10 or 15 years at this football club, Everything I kicked seemed to touch the back of the net"
If all goes well for Phillips then the 40-year-old may yet one day reignite his love affair with Sunderland, a fate which Black Cats fans will no doubt welcome with open arms.