Pendlebury, who remains uncontracted beyond 2021 but has been offered a new one-year deal to remain at the Magpies, insisted he hadn't spoken with other clubs and wanted to be "a one-club player".
But he also said that at some point he would "like to step away from the football club [Collingwood]" and "get some experience elsewhere".
"I've been on record saying I really do want to be a one-club player. Hopefully we nut something out soon," Pendlebury said on Triple M.
"But if they [other clubs] want to offer me future coaching gigs for a couple of years' time, I'll have a look at it."
Cornes, staggered at the words that had come from the mouth of Collingwood's skipper and games record-holder, shot Pendlebury down.
"The scenario around the captain is really interesting ... He's hardly put a foot wrong for 17 years, Scott Pendlebury, but he did this week," Cornes said on Nine's Footy Classified.
"It was a ridiculous thing to say.
"The club is on its knees, they've finished 17th, they've had the highest turnover of players, their salary cap has been smashed and he's advancing and taking them publicly for other clubs to offer him deals.
"Now I'm not sure if he's bargaining for more money, but what I will say is he's been the highest-paid player in the history of that club. No player has been looked after better than Scott Pendlebury.
"Yes, his performances have been excellent [over his career], but he's not worthy of a contract of $800,000 [a year anymore]. He's 33, his performance is clearly on the decline.
"And it was a pretty ordinary thing to say when the club's in the situation they're in."
Fremantle and Gold Coast are two clubs reportedly interested in signing Pendlebury on a player-coach deal, in which the Collingwood veteran could be contracted to play one season before transitioning into a two-year stint as an assistant coach.
"But it would be sad for him and Collingwood if it ended that way."
Pendlebury is one of Collingwood's greatest and most respected players in history, having won a premiership, a Norm Smith Medal, six All-Australian blazers and five best-and-fairest gongs.
The star midfielder was drafted to Collingwood via pick five in the 2005 national draft at 17 years of age and has since played 334 AFL games.