The former Newcastle player spent 11 seasons at his hometown club, before moving into management in 2008.
The 42-year-old has more management experience than interim Newcastle boss John Carver, though many of his recent roles haven't been successful, often through little fault of Clark.
His most recent job was at Blackpool, a position he left last month with the club in a huge mess under Karl Oyston, and he admitted that managing at St James's Park would be the greatest job he could ever hope for.
“It would be my dream to manage the club," Clark told the Mirror. "People ask John Carver how he could take the job with the owner not spending, but if you’re a Geordie and you turn down being Newcastle manager, you’ll regret it for life.
“Having a relegation on my CV hurts but it hasn’t knocked my confidence. In hindsight, I regret taking the Blackpool job – but it will help in the future.”
Clark also stressed that although many Newcastle fans are upset with owner Mike Ashley, there is a huge difference between the Magpies and Blackpool, even if he sympathises with the Toon faithful.
"A lot of people have told me there are similarities between Newcastle and Blackpool," he added. "But Mike Ashley presides over one of the best run clubs in the Premier League, judged on sound businesses principles alone - though in football that isn’t always possible.
“That football club dictates people’s lives in Newcastle, they will spend their last penny to go to the match. People say their expectations are too high, delusions of grandeur, but they just want a team that mirrors their passion.
“When I played under Kevin Keegan, he totally understood that. From what Mike Ashley said before the West Ham game, he accepts having exciting players and playing the Geordie way goes with the territory."
Clark's time at Bloomfield Road was a particularly difficult period in his managerial career, with Blackpool struggling to put together a competitive side and ultimately suffering relegation with a dismal points total of 26 - 13 below the next lowest side.
But it is the former midfielder's only relegation, and he displayed decent management at first club Huddersfield Town, where he made two playoffs and boasts the longest ever Football League run without defeat - 43 matches.
Between those two jobs was a stint at another club who were in financial dire straits, as he treaded water with Birmingham City after their relegation from the Premier League before being axed after two years.
Whatever opinion there is on Clark's qualities as a manager, and there is varying options to consider, there is little doubting his love for his hometown club, where he spent the first 10 years of his career and returned to to retire.
Could he be a viable option for Newcastle to consider this summer?