Walter Smith has stated that he will not replace sacked Mick McCarthy at Wolverhampton Wanderers.

The former Rangers coach entered the fray in a strong position as the Premier League club reportedly offered the 63-year-old a short-term deal until the end of the season.

Despite the club's advances, the ex-Scotland boss has chosen to reject the chance to take charge at Molineux.

"It's true I'm not going [to Wolves]," Smith told the Express and Star. "I was totally unsure whether I really wanted to do it or not.

"It was a purely personal thing, nothing to do with Wolves. I know [chief executive] Jez Moxey and knew I was more of a fall-back than anything. We didn't even get as far as discussing money.

"There was never a face-to-face meeting and we never discussed finance. If someone asks you, you're pleased to be asked, but the longer you think about it, you start to ask yourself whether it was right."

This latest refusal could pave the way for former Sunderland boss Steve Bruce, who is believed to still be in the running for the position.