Moyes, who would go on to manage Everton for 11 years from 2002 to 2013, rejected Wednesday's offer after a successful spell withÂ Preston in 2002.
Speaking to Si Ferry for Open Goal, Moyes said he met a number of Premier League clubs including the Owls, Southampton and Nottingham Forest.Â
'I met Sheffield Wednesday and I thought, I don't know what I'm going to do. Who am I going to go to for advice? So I thought, I'll phone Sir Alex.Â
'He said: '˜No, don't take that job it's no good.' He goes through the whole Sheffield Wednesday squad and he knew everything.'
Moyes attracted interest at the time afterÂ anÂ impressive term in charge ofÂ Preston, where he won the Division TwoÂ title and reached the Division One play-off final the following season '“Â narrowly missing out on promotion to the Premier League.
The Scot later joined Everton in March 2002, replacing Walter Smith at Goodison Park and then famously replaced Ferguson in a short spell in charge of Manchester United.
Meanwhile Wednesday stuck with Terry Yorath butÂ started the 2002/03 season in dismal form, leading to his resignation andÂ Chris Turner's appointmentÂ inÂ November 2002.