The former Manchester United midfielder played alongside Roy Keane during his time at Old Trafford, and has announced that he will leave Newcastle at the end of the season.
Speaking of Butt's decision to leave Newcastle, Keane was quoted as saying over the weekend: "Nicky won't retire, I'm pretty sure of that. I think he can still play at a pretty high level, but whether that's the Premier League, it's up to Nicky.
"As long as you can still play like we saw here, play as long as you can. There are plenty of years for coaching. Would I want him at Ipswich? His sort of experience is what we've lacked this season so we'll see."
Meanwhile Butt himself remained tight lipped on if he would be interested in such a move: "Maybe, yeah. Coaching is definitely something I want to do - I don't want to leave football. I've a few offers to play at other places."