O'Connor, who took charge of five games towards the end of last season, admitted that he was informed shortly after the final day draw with Shrewsbury Town before having a further discussion with club officials a few days later.
The 51-year-old former midfielder was given the difficult task of resurrecting the Saddlers' dismal campaign following the sacking of Dean Keates but was ultimately unable to halt their slide to League Two as they begin life outside of the third tier for the first time on over a decade.
Many vocal Saddlers fans have taken to Twitter calling for O'Connor to be given a role in the club's backroom team, with many believing he would form a crucial part of the club as we begin life under a new management team.
With many weeks left between now and the opening day of the season there is plenty of time for Clarke to consider his options and ultimately offer Skip a place in his side, here's hoping that's what happens!