Despite playing his entire professional career for United, Scholes is a boyhood Latics fan and, at the age of 38, there is speculation he may soon be looking to get into management.
But while Corney admits Scholes' presence "would refresh the whole club", he concedes that Iain Dowie is a more likely choice to succeed Paul Dickov, who resigned on Sunday with his side 20th in League One, less than a week after dumping Liverpool out of the FA Cup.
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"But is it going to happen? No, it isn't and there has been no contact between ourselves and Paul Scholes.
"For one thing, I cannot see him wanting to go from earning £60,000-a-week at Manchester United to £600-a-week at Oldham!
"We have received an awful lot of applications for the job, though, and it has been quite humbling to see some of the names who have expressed an interest."
Dowie also has previous experience with the club, leading Oldham to the League One play-offs during his first spell in charge in 2002-03, and has now been touted as the front-runner for the job,
Corney insists no decision has been made, but revealed the club hope to announce their decision before their FA Cup tie with Everton.
"Iain and I are good friends and we speak on a regular basis, but the club has time to make the right appointment," added Corney.
"I would certainly expect a manager to be in place in time for the FA Cup tie against Everton next week and hopefully the issue may be resolved before the game against MK Dons this weekend."