Former Chelsea and Brighton head coach Graham Potter rejected an approach from Wolves.
Potter is said to have turned down the chance to manage Wolves for the rest of the season and beyond.
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The Molineux Stadium club turned to Potter after firing Gary O’Neil, but have been rebuffed.
Per The Guardian, he is waiting for the right job, as he has been out of work for some time now.
Wolves may turn their attention to Vitor Pereira, who is currently managing Al-Shabab.
He has emerged as the frontrunner, as he has been on the club’s radar for some time.