I have recently been playing around with the idea of playing as a Director of Football, and having done some experiments, this is what I have found.
Key to this is the Holiday option. You can use it to just skip the matches, or you could put it on for a longer period of time. You can set specific transfer values for your players and have them automatically sold if that price is met. Your own personal involvement can be as involved as you like - micro-managing (essentially being almost like the manager) or letting the AssMan getting on with it, and only really intervening in, say, the transfer period or for important matches.
Choosing your AssMan becomes incredibly important, as he will essentially be 'your manager', choosing formation, motivating the team in talks, fining players, and so forth. One important aspect you have no control over if you holiday for a long time is the fining of players - if you have primadonnas in your team, it can be an issue. Also, player interactions are omitted, meaning players can get very annoyed very quickly - something that can be mitigated if you holiday only for short periods of time.
The best thing is - if your AssMan is successful, you get all the accolades! If he sux, you pay the price of course.
It is an interesting way to play the game, naturally not how it is intended, but if you are bored of all the billion clicks to get through a season, this is one way of doing it.