QPR boss Michael Beale has turned down the chance to take over as manager of Wolves.
Beale, Steven Gerrard's former No 2 at Aston Villa and Rangers, had emerged as the west Midlands outfit's No 1 option for the managerial role on Wednesday.
Wolves reportedly approached the Hoops for permission to speak to Beale on Thursday morning but the 42-year-old has rejected the chance to move to the Premier League side, according to The Telegraph.
Wolves' search for a new manager will go on, with the club having sacked Bruno Lage almost three weeks ago on October 2.