The dramatic loss at Molineux leaves Wolves precariously placed in 19th position in the Premier League with just nine points from 16 games.
O’Neil, who guided Wolves to a 14th-place finish last season, lost key players Pedro Neto and Max Kilman to Chelsea and West Ham United last summer
While acknowledging the challenges, the former Bournemouth boss ultimately couldn’t turn the tide.
“That group need me to get them in a place where they’re ready to go, and I’ll keep fighting for them,” O’Neil said in his final interview with Sky Sports. “But that doesn’t mean I’m not going to get sacked.”
The recent on-field woes were compounded by off-field issues. Only days after Mario Lemina was stripped of the captaincy for a post-match altercation, another incident involving Rayan Ait-Nouri painted an unsavoury picture of the club and summed up the unravelling at Molineux.
The frustration on the pitch has mirrored that in the stands. Wolves were in a European hunt as recently as March. However, they have managed only three wins since then, plummetting down the table.
With just four points separating them from safety, the decision to relieve O’Neil of his duties signals a desire for an immediate change in fortunes.
The hunt for a new manager begins with Wolves staring down the barrel of a relegation battle.
One option being rumoured is former Manchester United manager Ole Gunnar Solskjaer, who was present as the Tractor Boys scored a late winner to take all three points.
He has been unemployed since leaving the Red Devils years ago and may consider taking the arduous challenge of keeping the Midlands club in the top flight with 23 games to go in the season.
