The former Manchester United midfielder is a lifelong Oldham fan and was understood to be eyeing the role that is believed to have attracted decorated Dutch legend Clarence Seedorf and Paul Terry, brother of Chelsea icon and current Aston Villa captain John.
The managerial shortlist apparently features prestigious names because of some expected investment that will cover unpaid wages for players and staff in September, and then potentially make the third-tier outfit a more competitive entity. The club is currently positioned 19th in League One, although caretaker boss Richie Wellens has engineered three consecutive wins since John Sheridan was sacked as manager.
Wellens should be familiar with Scholes from his time representing Salford City, which is part-owned by the retired English international.
Scholes has never managed before, but boasts plenty of accolades through purloining 11 Premier League winners medals, three FA Cups, two League Cups, and two Champions League titles with Manchester United before hanging up his boots for the second and final time in 2013.