Kevin Winter/Getty Images; David A. Grogan/CNBC/NBCU Photo Bank via Getty Images
December 19, 2016 07:45 AM

Sylvester Stallone says that although he’s “flattered” by reports that President-elect Donald Trump was eyeing him as the National Endowment for the Arts chairman, he would not be taking the job.

In a statement obtained by PEOPLE, the Rocky star suggested he would better serve the administration by working for veterans.

“I am incredibly flattered to have been suggested to be involved with the National Endowment of the Arts,” the 70-year-old actor said in a statement. “However I believe I could be more effective by bringing national attention to returning military personnel in an effort to find gainful employment, suitable housing and financial assistance these heroes respectfully deserve.”

On Thursday, reports claimed that Trump, 70, had approached Stallone about the top arts position in his administration. The NEA is responsible for distributing government grants to arts organizations.

Stallone has donated money to various charities that support veterans and wounded servicemen over the years. In 2015, the actor sold over 1,400 movie props and other memorabilia to raise $3 million to assist military veterans and wounded service members as well as The Motion Picture and TV Country House and Hospital.

Stallone, who says he is not a Republican despite supporting GOP candidates such as John McCain in the past, said in an interview with Variety earlier this year that he wasn’t sure if Trump’s bold character meant he was equipped to handle the office of commander-in-chief.

“I love Donald Trump. He’s a great Dickensian character. You know what I mean?” Stallone said. “There are certain people like Arnold [Schwarzenegger], Babe Ruth, that are bigger than life. But I don’t know how that translates to running the world.”

— with reporting by Julie Jordan

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