The Bombers, who currently have a head coaching vacancy after the unceremonious exit of Ben Rutten at the conclusion of the home-and-away season, have reportedly interviewed a bevy of candidates as they look to swiftly secure their next leader.
Watson, a 307-game red-and-black legend, spoke on SEN Breakfast about the speculation surrounding the potential for a Hird return to The Hangar.
"I've spoken to nobody that's on the inside of this," Watson said.
"I am supportive of him throwing his hat into the ring and going for the job as hard as he likes.
Watson also commented on Sydney assistant Don Pyke's pulling out of the process, as well as Essendon's interest in AFL operations boss Brad Scott, Daniel Giansiracusa and premiership player, Blake Caracella.
"There have been others that have pulled out, we learned on the weekend that (Don) Pyke won't be part of it too," Watson added.
"I'm still hearing from people around the edges of all this that Brad Scott still might be interested in going for the job, but I think that'd be at the very pointy end of interviews."
"Giansiracusa has gone for the job, he's been interviewed," Watson said.
"Blake Caracella hasn't been approached to be interviewed for the job, he's overseas at the moment."
It is understood the Bombers are hoping to fill the position within the next few weeks.