Former Manchester United manager's odds slashed for Wolves job after Gary O'Neil snub

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Wolves search for a new manager continues after the initial bookies favourite for the job withdrew himself on what was very nearly a return to Molineux, less than a year after his sacking.

Gary O'Neil has withdrawn from consideration for the Wolves manager position, despite being close to making a surprise return to the club. The 42-year-old was a leading candidate to replace Vitor Pereira, just 11 months after his own dismissal. It was previously reported that much of the agreement had been reached, but O'Neil has now opted out of the process.

Wolves are now turning their attention to other candidates, including former Manchester United manager Erik ten Hag, who was dismissed by Bayer Leverkusen in September after only three games in charge . The club remains in discussions with several potential replacements.

O'Neil is still receiving payments from Wolves as part of a 12-month severance package following his sacking last December .

Pereira, who took over from O'Neil last December, was dismissed on Sunday after a 3-0 loss to Fulham left Wolves bottom of the Premier League , eight points from safety. The team has collected just two points from 10 matches—a record from which no Premier League side has ever survived.

Now that O'Neil has ruled himself out of contention for a return to the club, eyes have now turned to Middlesbrough boss Rob Edwards, who is understood to be high up on the board's shortlist.

The 42-year-old coach has been impressive of late at Middlesbrough as the club eye a return to the Premier League as they sit in second place in the EFL Championship and just three points behind leaders Coventry City.

However, the biggest shift in the market is Erik ten Hag who is now one of the front runners according to the bookies. The former United coach - who has picked up the FA Cup and EFL Cup during his time at Old Trafford - was recently let go after a very brief time at Bundesliga side Bayer Leverkusen.

William Hill's Lee Phelps said: “There’s been a dramatic overnight shift in the betting on who will be the next permanent Wolves manager, with Erik ten Hag the big mover – slashed from 12/1 into 9/4 – and the Dutchman is now the second favourite for the Molineux vacancy. Gary O’Neil has stepped away from a potential return, leaving Rob Edwards as the new frontrunner at 2/1.

“Portuguese boss Rui Borges has drifted from 4/1 to 8/1, now level with Michael Carrick, while Brendan Rodgers has eased slightly to 10/1 from 8/1. Meanwhile, Robbie Keane has seen significant support in the market – the Irishman shortening from 12/1 into 5/1 as he enters serious contention.”

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