Essendon great Matthew Lloyd has ruled himself out of the running for the Bombers' head coaching position.

The three-time Coleman Medallist had seen his name enter calculations in recent days, after veteran journalist Damien Barrett suggested the "Velvet Sledgehammer" could be in the running for the gig, on Friday.

"I'm not going to be shocked if Matthew Lloyd is asked the question by Andrew Welsh," he said, on Triple M's airwaves.

Lloyd responded to the speculation on Nine's Sunday Footy Show, when co-host Nathan Brown put the question of coaching to the man who led the Bombers' goal kicking a remarkable 12 times.

"Would you be part of the process if they asked you to be, as a [prospective] coach?" Brown posed.

In no uncertain terms, Lloyd responded.

"No. I don't have an interest in coaching at the AFL level," he said.

"I appreciate that "Damo" [Damien Barrett] thinks I'd be worthy of that (position). I just love the balance I have in my life."

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Why Bombers fans shouldn't expect review to have heads rolling

The reason Barrett suspected Lloyd could be in line for a phone call in the first case was the panel recently assembled and announced by the club.

Many believe the panel, made entirely of "Essendon people", leaves the door ajar for James Hird, or someone of his ilk, to return to the club.

Lloyd had his own criticisms of the panel, citing a lack of coaching credentials as his primary concern.

"I would've liked to have seen someone who has coached on that panel."

The 48-year-old currently coaches at the APS level, helming Haileybury with right-hand man Scott Pendlebury, his assistant.

The chasm between the two levels should have, on its own, been reason enough for Lloyd's name not to feature in Essendon's calculations.

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