He is employed at the moment - not in management, but surely with his record he could easily nab a job in the championship if he wanted one.
As someone said earlier, if he's applying for this job it isn't for the money or the need to be employed, it'll be for the lifestyle and a change for whatever reason. Coppell has apparently had issues dealing with pressure in the past so in that respect this would be a good choice for him. The kind of pressure the manager of the Phoenix experiences surely wouldn't compare to pressure in english football.
The dompost beat-ups have got nothing on the UK press - they're probably not even bugging people.