Gary O’Neil has held positive talks with Wolves over making a sensational return to the club.
The Black Country club parted ways with Vitor Pereira, 57, on Sunday morning following a dismal start to the season, and O’Neil has emerged as one of the favourites to replace him.
The Englishman was sacked from Wolves less than a year ago after overseeing a very poor start to the campaign. But with his successor axed after an opening run of two points from 10 games, O’Neil is now a leading contender to take the reins.
The 42-year-old made an initial positive impact after arriving at the Molineux on the eve of the 2023-24 season and was rewarded with a four-year deal in summer 2024.
But with Wolves in a relegation fight and discipline falling apart within the squad, O’Neil was dismissed last December.
Though O’Neil is not the sole candidate and the club are still assessing their options, Daily Mail Sport believes he has a strong chance of winning the race.

Gary O’Neil has held positive talks with Wolves over making a sensational return to the club
It would be a gamble for both him and Wolves. Results and performances saw O’Neil’s reputation take a nose dive among fans, many of whom have long been fed up with owners Fosun.
O’Neil has not worked since he left the club, despite being linked with a number of roles, mainly in the Championship.
The new manager’s first job would be to revive a squad who looked utterly bereft during last Saturday’s 3-0 defeat at Fulham, which turned out to be Pereira’s final match.
In 2022-23 and during last season, Wolves backed a new manager in January and that investment helped them pull clear of relegation.
Heading into Saturday’s match at Chelsea, they are already eight points adrift of safety.
One of O’Neil best days as Wolves boss was a 4-2 win at Stamford Bridge in February 2024. If he is to regain the role, results like that will be needed if the side are to have any chance of staying up.
Sporting Lisbon boss Rui Borges, who previously worked under Ruben Amorim, is another manager linked to the job. After taking over in the Portuguese capital a year ago, he won the Primeira Liga title last term.
However, it is thought that the Premier League side would need to pay Sporting a compensation package to secure Borges’ services.

One of O’Neil best days as Wolves boss was a 4-2 win at Stamford Bridge in February 2024
Current Middlesbrough boss Rob Edwards is also in the running for the role, though Wolves would also need to fork out a fee to take him from the Championship club.
Edwards would likely be a popular appointment amongst the disgruntled Wolves fanbase having played for the club for four seasons between 2004 and 2008.
Pereira’s sacking made him the fourth top-flight boss to be sacked this season despite signing a new three-year deal just weeks ago.
Wolves announced his dismissal in a 188-word statement released by Shi on Sunday reading: ‘Vitor and his team worked tirelessly for Wolves and helped guide us through a challenging period last season, for which we are grateful.
‘Unfortunately, the start to this season has been a disappointment and, despite our strong desire to give the head coach time and matches to find an improvement, we have reached a point where we must make a change.
‘We thank Vitor and his staff for their efforts and wish them the very best for the future.’