Wolverhampton Wanderers are targeting Gary O'Neil as a replacement for Vitor Pereira, and the former manager's stance on a return has been revealed.

The 3-0 defeat at Fulham on Saturday spelled the end for Pereira, with his side putting in yet another disappointing performance, barely laying a glove on the Cottagers and recording a total xG of just 0.24.

Moreover, the Old Gold were also very poor at the opposite end of the pitch, conceding three goals, which means they now have the worst defensive record in the league.

As such, it is no surprise that Fosun finally had enough and sacked the 57-year-old, who penned a new three-year contract less than two months ago, with Wolves' Premier League status now under serious threat.

After the latest defeat, which was their eighth in ten Premier League games, the Wanderers are now eight points from safety, leaving the new manager with a lot of work to do to dig them out of the relegation zone.

Gary O'Neil pulls out of Wolves manager race

According to an update from reliable reporter John Percy on X, Wolves entered "advanced talks" to appoint O'Neil, who emerged as a "very strong contender" for the job.

However, the former Old Gold boss has on Monday evening withdrawn himself from the running.

Appointing a manager who was sacked less than 12 months ago could be viewed as a backwards step, and the ex-AFC Bournemouth boss doesn't have the greatest of records in the Premier League, averaging a little over one point per game.

However, the Beckenham-born manager does have experience in relegation battles, successfully guiding the Cherries to safety in the 2022-23 campaign after taking over from Scott Parker, before going on to secure a 14th-place finish with Wolves the following season.

Percy also hailed O'Neil for the job he did at Molineux, after taking over from Julen Lopetegui at a difficult time.

In truth, with Wolves eight points from safety, top managers are unlikely to be queuing up for the job, so to miss out on their former boss is a blow.

Wolves also targeting Brendan Rodgers as Vitor Pereira replacement