Reid was sacked by Leeds following a 6-1 defeat at Portsmouth in November.
"I would never quit and those who know me will agree," said Reid. "That's the number one rule as football manager."
Reid was speaking whilst appearing as a guest on Sky TV’s Goals on Sunday programme.
It was suggested Leeds wanted to avoid paying out to Reid following large compensation packages to David O'Leary and Terry Venables.
"It doesn't take Einstein to work that one out. I think it's difficult to prove but I just got that feeling," Reid added.
"There were things that happened that I wasn't pleased about, but I prefer to do things face to face."