"It drew some interest from Phil," Vincent told the paper. "But in the end, Phil decided to go with another opportunity."
Martins told the Sentinel he would abide by his policy of not commenting on specific candidates.
The article also stated Vincent has head coaching candidates for the Magic, including Scottie Pippen, who is currently an ambassador for the Bulls.
"We lose a strong component in Phil, but it still has a lot of strength," Vincent told the Sentinel. "I wanted to have Phil in the group."
Vincent played for the Magic for three seasons, including their first year in 1989. He still lives in the Orlando area and told the Sentinel the Magic still own a piece of his heart. He also spent one season as the Charlotte Bobcats' head coach.
Vincent told the Sentinel that Jackson, 66, gave him the impression he didn't want to coach again. Jackson retired last year after winning five titles with the Los Angeles Lakers and six with the Bulls.
The thinking is Jackson's pedigree may have influenced Dwight Howard to sign a long-term extension with Orlando.
Pippen told ESPN 1000's "The Waddle & Silvy Show" on April 27 that he believes Jackson will return to the NBA.
"I do," Pippen said. "I think he had definitely run his course in L.A. He had had a lot of success there and had some up-and-down situations, but I think all in all it was probably good for both sides for him to move on.
"But, yeah, I do see a lot of basketball left in Phil. He still has a great mind, a lot of knowledge. I know for a fact he had some physical problems going on with him that he needed to take care of. He's underway with that right now, so hopefully his recovery and everything goes well. Hopefully, we can see him back in the game in the next couple, three years, maybe next year."