Gary O'Neil was sacked by Wolves last December
Gary O'Neil has pulled out of the running to become Wolves manager after coming close to a shock return to the club.
The 42-year-old had been a contender for a surprise comeback to replace Vitor Pereira, 11 months after being sacked.
Sources have told BBC Sport a large part of the deal had been agreed but O'Neil has now withdrawn from the process.
Wolves remained engaged with other candidates while talking to O'Neil and will now continue those discussions.
