With Dean Saunders sacked as manager of Wolves, here are five favourites to take up the role with the club now in League One.
Wolves Chairman Steve Morgan releases a statement apologising to fans after the club were relegated to League One.
Wolves' relegation from the npower Championship was finally confirmed as they went down 2-0 at Brighton
Wolves defender, Jody Craddock, has announced his testimonial year, after confirming his retirement from professional football at the age of 37.
“I always loved playing for Wolves, and gave it my all, and am looking forward to sharing this year with the club’s supporters."
Speaking about Toby, Craddock said:
– Jody Craddock, Wolves defender
"He is currently doing really well, and the care and support both he and our whole family have received from the hospital has been second to none.
The Hospital is always in need of extra funding to help their facilities for both patients and their families, and at the moment are involved in a big appeal for a new Children’s Cancer Centre.
Toby is progressing really well, but is still undergoing regular treatment, and it will be great if we can help out the Hospital with their appeal."
Wolves defender, Jody Craddock, has confirmed his retirement after ten years' service at Molineux.
Ron Flowers is visiting the Royal Air Force Museum Cosford today to help the museum with a project which is examining the lives of footballers who served in the RAF both during and after the Second World War.
RAF Museum Cosford Education Officer, Philip Clayton said:
"Ron served for the RAF as part of his National Service and was called up just two weeks before his eighteenth birthday.
He must have some affectionate, as well as hilarious reminiscences during the time known as 'brasso, blanco and bull.' I wonder how many footballers would manage this change of life today."
Ex-England and Wolverhampton Wanderers Midfielder, Ron Flowers, is visiting the Royal Air Force Museum Cosford to help the Museum with a project which examines the lives of footballers who served in the RAF, during and after the Second World War.
Ron Flowers won three Championships and an FA Cup with Wolverhampton Wanderers and won 49 caps for England. He played in the 1962 World Cup, scoring two penalties and was a member of the winning World Cup team in 1966, although narrowly missed out on playing in the final itself.
Speaking to ITV News Central, former Birmingham City, Aston Villa and Nottingham Forest manager Alex McLeish said it was 'difficult to understand' how Wolves had fallen so far.
"Deano sacked! Not surprised. Pleased to here Kevin Thelwell (A proper football man) will be heading the search for a new manager about time."
Dean Saunders took over in January this year and won just five of the 20 matches he was in charge for. The club will now be looking for their fifth manager in fewer than 15 months. Watch Michael Sibert's report.
"Morrning! What a day! Not for my old mate Deano though...... #sacked #wwfc"
"All my mates are WWFC fans. Cannock is Wolves, was there as a kid. Would like to see them get it right this time."
"Wonder if my old youth team mate Dean Smith might get tempted down the road..... Burgeoning reputation, local. Saddlers woe bi appy tho."
"Going to stick my neck out and go Coyle. Ticks all the boxes, motivated, big enough name, point to prove."
– Wolverhampton Wanderers Club Statement
Manager Dean Saunders has been informed by Wolves that his contract is to be terminated. The decision has been made following confirmation of Wolves’ relegation to npower League One.
Assistant Manager Brian Carey will also be leaving the Club.
Wolves have now begun a recruitment process, which, in conjunction with the Board, will be managed by Head of Football Development & Recruitment Kevin Thelwell.
The Club will now take as long as is necessary to make this crucial appointment and there will be no publicly communicated timescales.
Wolves also thanked Dean Saunders and Brian Carey for their efforts in what they say has been 'a very difficult period for everyone'. The club wished them both the very best for the future.