Sullivan, who left his role at Birmingham earlier this month after finally agreeing a deal with Carson Yeung, is keen on getting involved with a new football venture.
The 60-year-old claims he has been approached by 14 clubs about investing in them and he also admits he almost took control at Ipswich when Yeung first tried to gain control at Birmingham two years ago.
Sullivan had to pull out when Yeung failed to buy Birmingham at the first attempt when he could not raise the necessary funding to complete the deal.
"I was very close to buying Ipswich Town," Sullivan told the Sunday Mirror.
"I had a two-week window of opportunity but had to pull out because Yeung didn't come up with the money and the rules prevent me from having financial interest in two clubs."
Sullivan has been linked with moves for West Ham and Charlton, but insists he will take his time before deciding what presents the best option for himself.
"It's my intention to take some time off and then I will look around and see what is available," added Sullivan
"Although I have been approached by a lot of clubs, any investment has to be right for me.
"The criteria I'm looking at are a club with a decent ground, good fan base and in easy travelling distance from my home.
"The major obstacles are the over-inflated prices clubs are attempting to charge and in most cases the significant debt that comes with that club."