The 44-year-old quit his post at Darlington on Thursday afternoon before penning a two-year deal with the Latics later in the day.
And, though he insists he will weigh-up the Latics squad first, Penney could be tempted to bring in some of his former players.
"There's 92 football clubs in this country and they'll be a lot of good footballers who will be out of contract in the summer," he said.
"I'm not saying I won't - it just depends what positions I need and where I'm going.
"So I need to take a good look at Oldham first and find where they need strengthening and see what's out there to make the team stronger."
Source: Team_Talk