Iraola made more than 500 appearances for the Bilbao club as a player, and he has been reported to be among the frontrunners to take over from Valverde.
Asked about the news and whether Cherries fans should be worried that he will not sign a new deal, Iraola said: “It affects me probably as a supporter because, I support this club.
“Obviously I’ve been playing there for a lot of years and has been a surprise also for me. I have a lot of friends there, and in your group, you see the news and they send you their messages.
“And I can only speak very well. It’s my biggest reference in football, Ernesto. So it’s a decision that he has made, but it’s not affecting me apart from the supporter side, let’s say.”
Asked if he would be interested in a conversation about the job at his former club, Iraola said: “It’s not a situation that has happened.”
He continued: “I think there are situations that I said a lot of times, we have to discuss with the club internally, but it’s not about any other club, it’s about Bournemouth, and these are the only discussions that we are having.”