Darcy, who was recently appointed to the Western Bulldogs' coach selection panel, said the former Essendon coach - who finished up at the club on Wednesday - boasts an impressive coaching record, and failure to capitalise on Thompson's skills would be a "waste of the game".

"I think given that we haven't finished the process at the Bulldogs you'd have to think about it," he told Eddie McGuire on Triple M's The Hot Breakfast on Thursday.

"The time that he was in contract, that precludes you from having any of those conversations.

"Again, that's a matter for the people on the committee.

"But you look at his coaching record Ed, it is off the charts, it is an amazing record in football.

"For someone like that not to be involved actively, just seems like that is a waste of the game.

"The answer is yes."

After tense meetings between Thompson, Bombers chairman Paul Little and CEO Xavier Campbell on Wednesday, the chief executive released a statement through the club saying they were unable to find a suitable role for the coach.

"There were many factors that were considered but at the end of the day any role needed to have purpose and add meaningful value to our football club," Campbell said.

"We held extensive negotiations with Mark, but we were not able to reach a position that would satisfy both parties and in the end, we had to make a difficult decision in the best interests of all parties and move forward with planning for the 2015 season."