O'Neil was axed by Wolves last December - but looked to be in line for a sensational return less than 12 months later.
Shortly after O'Neil's replacement, Vitor Pereira, was sacked last Sunday, the former midfielder emerged as the leading candidate to make a shock return.
Talks had taken place and O'Neil was preparing his backroom staff - while Wolves fans hit back at the possible appointment and penned an open letter to the owners about the direction of the club.
O'Neil then made a u-turn and pulled out of the race, and speaking as a pundit on Sky Sports' coverage of Wolves' clash with Chelsea on Saturday, [the 42-year-old explained that the move 'did not feel like the right time or right fit'.](https://www.skysports.com/football/video/30998/13467052/gary-oneil-explains-why-he-rejected-wolves-reunion)
But reports linking the former Molineux boss with a new job have continued.
His name has been linked with the soon to be vacant managerial position at Middlesbrough - with Boro boss Rob Edwards set to be appointed as Pereira's successor.
O'Neil spent time as a player at Boro and has been previously linked with the role twice in the past. He is currently the bookmakers favourite at 5/2, but reports in the North East have stated that the appointment of O'Neil would not be welcomed by some Boro fans.
Now it has emerged that the ex-Wolves chief is on the radar of Norwich City - who sacked Manning on Saturday following a dreadful start to the season.
Manning joined the club from Bristol City but after the Canaries dropped into the relegation zone - he was swiftly moved on.
O'Neil, who also had a spell as a player at Carrow Road, is among the early favourites along with ex-Southampton and Rangers boss Russell Martin.