Wolves have affirmed that Steve Davis, the current interim manager, won’t be replaced until 2023.
After Bruno Lage was fired in early October with the Wanderers in 18th place in the Premier League, Davis assumed control. They are still in the bottom three, but they recently defeated Nottingham Forest.
Queens Park Rangers manager Michael Beale had been a target for Wolves as their next manager, but it was revealed earlier on Thursday that he has decided to stay with the Championship team.
Chairman Jeff Shi said: “In the short time Steve and his team have been in interim charge of the first-team, we have already seen improvements to the group, with the players responding well to their methods and the changes they have started to implement.
“Steve understands the culture and standards set at this club, and we want to give him and his team clarity on their positions and allow them the best possible opportunity for success.
“While there are no outstanding candidates to appoint on a permanent basis to the head coach position, we have complete faith in their ability and leadership to continue their roles into the World Cup break and new year.
“We have no plans to rush our search for a new permanent head coach and will not compromise in any way our approach to appointing the person we believe to be the perfect fit for our club, our squad and the role of head coach at Wolves.”
In their search for a new manager, Wolves have been rejected by both Beale and former Sevilla manager Julen Lopetegui. They play their next game on Sunday at home against Leicester.
