The former 'Stute midfielder described his return to Drumahoe as similar to what the England legend must have felt when Newcastle boss kevin Keegan came knocking on his door.
"I said to my wife my situation going back to 'Stute, is a bit like Alan Shearer being asked to go back to Newcastle United, although he decided against going back, I feel I'm a bit braver than him," said McGuinness.
"I always hoped to get back into football and to be honest I never thought it would be now because I felt Liam (Beckett) would have stayed until the end of the season.
"But I'm delighted to be back at Drumahoe.
"We are in a relegation battle and everyone has to be ready for the challenge. However it's not about John Gregg or Raymond McGuinness, it's about the players and the squad.
"There is nothing worse as a player to be in a relegation battle but their is no better stage to turn your season around with five games to go and if we can move away from the bottom three sides then if you haven't made headlines all season then you are certain to make headlines come the end of the season."
The ex-Ballymena United man admits that like in his playing days he'll air his views both to the players and Gregg .
He said he won't be a 'yes' man.
"John suggested his team for the Linfield game last Saturday and I suggested my team, but we have agreed to disagree in team selection, however he had the final say and at the end of the day I'm here to help him all I can.
"John could have went with someone who would have agreed with what he said all the time for his number two. But he knows me from my days at Ballymena that sometimes I air my views.
"Sometimes I'm wrong and sometimes I'm right but the good thing now is that I'm retired and I know a wee bit more, because I have thought about the game.
"I think it was Paul Hegarty who said I would be a great coach whenever I stopped playing, but that remains to be seen."
Now McGuinness has that opportunity to prove the Finn Harps boss right and he's thrilled to have the opportunity.
"John has given me the chance to come and he has told me to channel all my controlled aggression in the right way. I'm going to give it 100 per cent.
"I have done my European B Licence and Level One Licence in the Republic of Ireland and I have now gone down the line as a personal fitness and gym instructor. So I have always kept my hand in and I'm glad to be back at 'Stute. I'm going to enjoy it."