Peterborough United boss Darren Ferguson is not in the running for the managerial position with Wolverhampton Wanderers, according to a club source.

It is understood that some bookmakers suspended betting on the 40-year-old replacing Terry Connor at Molineux next season, but the source is understood to have told the Express & Star that the rumours are "nonsense".

Wolves will reportedly take their time before naming their new boss as they prepare for life in the Championship.

The club will travel to Wigan Athletic on the final day of the season this weekend.