Earlier today, it looked as though O’Neil was closing in on a return to Molineux, having been dismissed as Wolves boss in December, paving the way for Vitor Pereira’s appointment.
However, while the Wolves hierarchy were willing to reappoint O’Neil in the wake of Pereira’s sacking on Sunday, the former Middlesbrough midfielder is understood to have withdrawn from the recruitment process.
Reports have suggested that O’Neil did not feel it was the right time to return to his former position, with Wolves rooted to the foot of the Premier League table.
The Wolves hierarchy will now have to move on to alternative targets, with Edwards known to feature prominently on their shortlist of potential options.
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Middlesbrough's 'doubts' for Leicester game - and Rob Edwards' warning on Boro midfielder
The Boro boss, who is contracted to the Riverside to 2028, has strong links to Wolves, having made more than 100 appearances for the Midlands club as a player. Edwards was also an Under-23s coach with Wolves and briefly led the club on an interim basis prior to embarking on his own managerial career.
Edwards’ family still live in the West Midlands, but when he was asked about speculation linking him with Wolves earlier today, the Boro boss insisted his sole focus was on the Teessiders’ trip to the King Power Stadium to take on Leicester City tomorrow.
Speaking at his press conference at Rockliffe Park, Edwards said: “I was told about it [the Wolves speculation] by my daughter yesterday. So that probably tells you where I am with it all.
“I can understand it, with my links to the club, but my full focus is on this job here, which is a brilliant job, and trying to turn things around from the weekend in what is a really big game against Leicester.
“It’s speculation stuff, so its hard for me to comment on anything other than Middlesbrough Football Club, which is where my focus is. We’ve done a decent job so far, all I care about is trying to win tomorrow.”