former Toon midfielder Gary Megson is (rumoured to be) set to replace Terry Connor in the club's battle to avoid relegation.
Connor has collected just one point from his three games in charge and presided over a 2-0 home loss to relegation rivals Blackburn last weekend.
The team have also shipped nine goals in those three matches and there have been question marks regarding Connor's suitability for the role.
Reports on Thursday morning claimed that Wolves owner Steve Morgan was considering another change, with Megson put forward as the man to be parachuted in to save the Black County side.
Megson was recently sacked by League One promotion hopefuls Sheffield Wednesday and has experience of a Premier League relegation battle from his time at Bolton Wanderers.
Wolves have moved swiftly to deny the speculation, though, stating on their official Twitter feed: "No truth in today's Gary Megson story at all."