Wolverhampton Wanderers have reportedly sacked head coach Gary O'Neil following Saturday's 2-1 home defeat to Ipswich Town in the Premier League.

Matheus Cunha cancelled out an own goal from Matt Doherty at Molineux on Saturday, with Wolves and Ipswich seemingly set to share the spoils in the West Midlands, but Jack Taylor came up with a 94th-minute winner for the visitors.

Wolves have now lost each of their last four Premier League matches, with their latest defeat leaving them down in 19th spot in the Premier League table, boasting only nine points from their opening 16 matches of the campaign.

The team have comfortably the worst defensive record in England's top flight this term, conceding 40 times, and it has now been decided, per multiple reports, that a change in the dug-out is required ahead of the festive period.

O'Neil admitted the loss to Ipswich was "a big blow", calling the goals that his team conceded on Saturday "crazy for this level".

Wolves are looking for a new manager after O'Neil decision

"It's a big blow. A big blow for the group, especially with how much it took for us to get ourselves in the game and be the better side for the whole of the second half. It's a big blow, because the lads, as you see, were at maximum. We got every last drop out of them to get ourselves in that position where we looked like, and I felt like, we'd go on to win the game, and then to suffer a goal that late," he told reporters.

"The nature of the two goals are crazy for this level, which we've said too many times this year. I can help them and protect them from a lot of things, but a centre-back booting the ball high for Liam Delap to just run through, he'd have scored that goal in his under-18s loads of times when he was bigger and stronger than everyone, and he just ran through and moved people out the way.

"That shouldn't happen at Premier League level. Then there was unbelievably bad decision making from a corner, from players deciding to switch positions for no reason that cost us at the end, but that's my responsibility.

"I'm really gutted because it took a lot to get us to that point today, and the subs made a big impact. The change in the shape and the structure made a big impact, and then we have nothing to show for it."

O'Neil took charge of Wolves in August 2023, and he leaves Molineux with a record of 20 wins, 11 draws and 32 defeats from his 63 matches at the helm, placing his win percentage at just under 32.

Who could replace O'Neil at Molineux?

Former Manchester United head coach Ole Gunnar Solskjaer is regarded as the favourite to replace O'Neil, with the Norwegian present at Molineux for the clash with Ipswich.

According to journalist Andy Mitten, Solskjaer was in the stands due to his close relationship with Ipswich head coach Kieran McKenna, and the fact that his son supports the Tractor Boys.

However, Solskjaer is being heavily linked with the role, and the 51-year-old could be set for his first management job since leaving Man United towards the end of 2021.

Steve Cooper, who recently left Leicester City, is also thought to be an option, in addition to former Porto manager Sergio Conceicao and Al Gharafa head coach Pedro Martins.

Graham Potter and David Moyes are also viewed as outsiders for the role, with Wolves now looking for a new head coach who will be tasked with leading the team away from the relegation zone in the second half of the campaign.

Next up for Wolves is a Premier League clash with Leicester on December 22, while the strugglers will finish 2024 with games against Manchester United and Tottenham Hotspur.