Ole Gunnar Solskjaer and Erik ten Hag have emerged as early favourites to replace Vitor Pereira, who has been sacked by Wolves after a disastrous start to the Premier League season.
Brendan Rodgers and Frank Lampard are also among the names being considered as the club looks to steady the ship following a torrid run of results.
Pereira’s departure was confirmed after Saturday’s 3-0 defeat to Fulham, a result that extended Wolves’ winless run and left them bottom of the table with just two points from ten games.
The Portuguese manager, who only signed a new three-year deal in September, has overseen eight defeats this campaign, leaving the Molineux hierarchy with little choice but to act.
Solskjaer is currently without a club after leaving Besiktas in August, while Ten Hag became available following his dismissal from Bayer Leverkusen in September. Both men bring strong Premier League experience from their time at Manchester United and are seen as capable of stabilising a struggling squad.
Rodgers, meanwhile, is free after parting ways with Celtic earlier this year and could provide the tactical discipline Wolves have lacked.
Lampard, currently in charge of Championship side Coventry City, is viewed as an outside option but has admirers within the club for his man-management and focus on developing young players.
Wolves’ season has been plagued by poor form and mounting pressure on Pereira, who faced vocal criticism from supporters during recent defeats.
The low point came in the 3-2 loss to Burnley last week, where the manager had to be pulled away from angry fans by his own players. With just two draws, against Brighton and Tottenham, to show for their efforts, Wolves now face a crucial period as they search for a new leader to spark a turnaround and drag them out of relegation danger.