Robbie Keane has applied for the Wolves job, talkSPORT understands.
Vitor Pereira was sacked by Wolves on Sunday having not won any of their first ten Premier League matches of the season.
Keane has expressed his interest in the Wolves job
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Keane has expressed his interest in the Wolves jobCredit: Getty
Keane, however, could miss out on the job to Gary O'Neil with talks advancing positively.
O'Neil, who was sacked by the club last December, is still highly regarded by the club's hierarchy.
Wolves are currently rock-bottom of the table with just two points after their 3-0 defeat to Fulham at the weekend.
Relegation is now a real risk this season but Keane, who scored 27 goals in 85 matches for Wolves, has thrown his hat in the ring.
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Jeff Stelling urges Wolves to hire Robbie Keane as their replacement for Vitor Pereiera
After a playing career with spells at clubs such as Tottenham, Liverpool and Celtic, Keane became the player-manager at ATK.
He then took on the assistant manager role with the Ireland national team before becoming the head coach at Maccabi Tel Aviv in 2023.
Keane won the Israeli Premier League title in his one and only season at the club, as well as the Toto Cup.
The ex-Premier League star joined Hungarian side Ferencvaros at the beginning of 2025 and lifted the league title.
talkSPORT reported last week that Keane has been considered for the Celtic vacancy after the departure of Brendan Rodgers.
However, if the 45-year-old did return to Wolves it would arguably be the toughest job in the Premier League.
Keane won the Hungarian title just months into his stint at Ferencvaros
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Keane won the Hungarian title just months into his stint at FerencvarosCredit: Getty
Pereira wants to return to the Premier League in another job
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He could be the man to replace Pereira in the hotseat at MolineuxCredit: Getty
It's a move that has been backed by talkSPORT's Jeff Stelling and Ally McCoist in their mission to avoid the drop.
Keane backed for Wolves job
"Wolves fans, forgive me, but the likes of Brendan Rodgers, he doesn't want a relegation on his CV," Stelling said on Breakfast.
"That's what it is almost certainly going to be. My suggestion for what it's worth, a bit left field, is what about someone like Robbie Keane?
"He started out at Wolves, he's been abroad, he's done his stuff, he's had success at Maccabi Tel Aviv, now he's having success at Ferencvaros as well.
"I'm pretty sure he's keen to manage in England, particularly in the top flight.
"I'd be looking at someone like that who wants to come and make an impact, rather than the same old names on the merry-go-round."
Keane came through the academy at Wolves before playing for the first team
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Keane came through the academy at Wolves before playing for the first teamCredit: getty
McCoist replied: "I'll tell you right now, it's a good shout. Obviously he has connections with the club as well.
"I don't think that's a daft shout. It's a big job for him, but it's a heck of a job as well.
"He's had a great start to his managerial career in Israel and Hungary, but that would be a big, big move for him."
Who else could be the next Wolves manager?
talkSPORT understands that Gary O'Neil, who was sacked by Wolves in December, is a strong candidate to take over.
O'Neil is still held in high regard by owners Fosun and has been away from the touchline since his exit.
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Gary O'Neil could be on his way back to the Wolves dugout
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Gary O'Neil could be on his way back to the Wolves dugoutCredit: Getty
Middlesbrough boss Rob Edwards made 111 appearances for Wolves as a player and has also been sounded out.
However, they would need to pay compensation to prise him away from the Championship promotion hopefuls.