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Published 12:33 3 Dec 2015 GMT
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But the 40-year-old, who also co-owns Salford City, turned down the offer of a five-year contract with the broadcaster to take up the opportunity to pit his wits as the manager of Valencia in Spain.
It's a bold move for his first managerial appointment - and many lesser characters may have opted to stay in - but the chance to manage a La Liga side was to alluring to pass up.
His first game in charge will be a baptism of fire in the Champions League against Lyon - which will ironically be shown on BT Sport.
However, the door to Sky Sports is still open to Neville to come back should his tenure at the Spanish club not extend beyond five months.
It looks like a mixture of Alan Smith and Jamie Redknapp will be keeping his chair warm for him during his sojourn in Spain.The full list of potential punishment scenarios for Man City
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