It's all change in the next Wolves manager odds market after big favourite Gary O'Neil withdrew from the race to succeed Vitor Pereira at Molineux yesterday.
Pereira was sacked on Sunday as a 3-0 defeat against Fulham in the Premier League the day before 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 conceding a league high 22 goals.
Wolves were 19th in the table when Pereira, now 57, took over last term and he 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, Rayan Ait-Nouri joined Man City for £31m and captain Nelson Semedo departed for Fenerbahce as his contract expired.
He signed a new three-year deal in September but has been sacked less than two months later. It might not be O'Neil but a similarly familiar face now leads the betting
Wolves manager odds update
| Manager | Odds |
| Erik ten Hag | 5/2 |
| Rob Edwards | 3/1 |
| Robbie Keane | 6/1 |
| Rui Borges | 12/1 |
| Brendan Rodgers | 14/1 |
| Michael Carrick | 14/1 |
| Ole Gunnar Solskjaer | 20/1 |
Wolves' next manager favorite?
Erik ten Hag is now the surprise bookmakers' favourite to replace Vitor Pereira as Wolves manager (5/2 Ladbrokes) and return to the Premier League just over a year after leaving Man United.
The 55-year-old was an eye-catching contender as soon as news first broke of Pereira's sacking. His sacking at Man United last season had been touted as a reason for Ruben Amorim to be worried about his future after a similar autumnal slump. However, the Portuguese coach has somewhat arrested the slide, while ten Hag's subsequent role was almost more brutal.
He was sacked after just three months as manager of Bayer Leverkusen after two Bundesliga games and three total competitive games in charge, which set a new record for the fewest league matches for a manager in Germany.
The Dutchman heads a stacked betting market featuring fellow former United managers in Michael Carrick (albeit an interim one) and Ole Gunnar Solskjaer, alongside the likes of Rob Edwards, Rui Borges and Robbie Keane.
Just a week after leaving Celtic, Brendan Rodgers was made the early favourite to make a swift return to management with Premier League basement boys Wolves but is now a 14/1 chance.
MORE: Who is the favourite to replace Brendan Rodgers at Celtic?
A man with Molineux links, Rob Edwards is the closest to ten Hag in the latest odds.
Edwards was a centre-back for Wolves between 2004 and 2008 and returned to the dugout with Middlesbrough in the Championship this season having earned plaudits for leading Luton Town to the Premier League in 2023.
Meanwhile, a left-field name who temporarily jumped towards the head of the market was Sporting CP head coach Rui Borges, 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.
Wolves dismiss Pereira: why?
Vitor Pereira was sacked as Wolves manager after presiding over a 10-game winless run to start the 2025/26 Premier League season. Ironically, his predecessor Gary O'Neil - a key contender 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 of 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. He lost significant firepower over the summer - most notably Matheus Cunha - and failed to land a number of his key targets in return, despite securing the services of coveted winger Jhon Arias.