An 8/1 chance as recently as Monday, Middlesbrough's Rob Edwards is now odds on with all the UK bookmakers to replace Vitor Pereira and become the next Wolves manager.
Pereira was sacked last Sunday as a 3-0 defeat against Fulham in the Premier League on the Saturday afternoon proved to be the straw that broke the camel's back.
His side had failed to win any of their 10 Premier League matches this season, taking just two points and letting in a league high 22 goals. Interestingly, they rank 7th for the most shots conceded (12.6 per game) despite topping the goals conceded list.
Wolves were 19th in the table when Pereira, now 57, took over last term and he comfortably steered them to safety in 16th - a massive 17 points clear of the bottom three.
However, his squad was decimated in the summer as Matheus Cunha moved to Man United for £62.5m and Rayan Ait-Nouri joined Man City for £31m, while club captain Nelson Semedo departed for Fenerbahce as his contract expired.
Keeping Jorgen Strand Larsen amid strong links to Newcastle was seen as a big positive but the Norwegian only has one league goal to his name - missing three games with injury.
Pereira signed a new three-year deal in September but was sacked less than two months later. Let's look at the latest next Wolves manager odds as the squad prepares to play Chelsea.
Next Wolves Manager Betting Odds
| Manager | Odds | Bet With |
| Rob Edwards | 1/3 | Bet365 |
| Ole Gunnar Solskjaer | 6/1 | Bet365 |
| Erik ten Hag | 10/1 | BetVictor |
| Brendan Rodgers | 12/1 | Ladbrokes |
| Sam Allardyce | 14/1 | Paddy Power |
| Rui Borges | 16/1 | BetVictor |
Who will be the next Wolves manager?
The betting odds suggest Rob Edwards is in line to return to Molineux as Wolves manager (1/3 with Sky Bet). Edwards, a centre-back for Wolves between 2004 and 2008, returned to the dugout with Middlesbrough in the Championship this season having earned plaudits for leading Luton Town to the Premier League in 2023.
Slipping to second favourite after leading the way earlier this week is Erik ten Hag (10/1 with Bet Victor), sacked as Man United manager just over a year ago.
The 55-year-old was an eye-catching contender as soon as news first broke of Pereira's sacking. He was relieved of his position at Bayer Leverkusen after just three months and two Bundesliga games (three competitive games), setting a new record for the fewest league matches for a manager in Germany.
Edwards and ten Hag head a stacked betting market also featuring current Ferencváros head coach Robbie Keane (a Wolves player from 1997 to 2000) and the recently deposed Celtic boss, Brendan Rodgers. Just a week after leaving Celtic, Rodgers was made the early favourite to make a swift return to management with Wolves but is now a 12/1 chance.
Meanwhile, a left-field name who temporarily jumped towards the head of the market was Sporting CP head coach Rui Borges (16/1), who took charge of Sporting after Ruben Amorim's departure to Manchester United. The 44-year-old had previously coached at Moreirense and Vitoria Guimaraes.
A big drifter is Sergio Conceicao (now 25/1), the head coach of Saudi Pro League club Al-Ittihad for only the past three weeks. He was in the running to join West Ham earlier this season and is a three-time Portuguese league winner from his time with Porto.
Why was Pereira sacked by Wolves?
Vitor Pereira was sacked as Wolves manager after overseeing a 10-game winless run to start the 2025/26 Premier League season.
Ironically, his predecessor Gary O'Neil - at one stage lined up to return to the job - was given the boot himself after losing seven and taking just a single point from the first eight league matches last season.
Pereira was nominated for the 2024/25 Premier League manager of the year after leading Wolves out of trouble to 17 points from safety in the final standings.
However, he lost significant firepower over the summer - most notably Matheus Cunha to Man United - and failed to land a number of his key targets in return, despite keeping Strand Larsen and securing the services of coveted winger Jhon Arias.