Wolves still hope to appoint Mick McCarthy's successor as manager by the weekend with Steve Bruce emerging as one of the favourites, Press Association Sport understands.
Former Sunderland boss Bruce is believed to have impressed club owner Steve Morgan and chief executive Jez Moxey when spoken to on Friday and is one of the candidates likely to be given a second interview.
Speculation that Bruce turned down an offer to take charge for only the remainder of this season are wide of the mark and Wolves would ideally like to make a long-term appointment.
Moxey said: "I think we are about halfway through the process and it is going well. We have seen some very good candidates, have got some more candidates to see and we've got second interviews to do.
"So far, I think we are just about on schedule to keep to what we said which was, if at all possible, that we'd like a new manager in before our away game to Newcastle next weekend.
"We can't be absolutely sure that will be the timeframe but ideally that is what we want to do."
Bruce, who has just relocated to the midlands after his sacking by Sunderland, enjoyed five and a half years of relative success at Birmingham before spells at Wigan and then with the Black Cats.
Early bookmakers frontrunner, Alan Curbishley, appears to have slipped down the pecking order while Neil Warnock, who was spoken to by Wolves, has now taken charge at Leeds.
But the likes of Blackpool boss Ian Holloway, former Huddersfield manager Lee Clark and the currently available Gordon Strachan and Walter Smith have also been linked as potential candidates.
Moxey added: "This job requires a certain type of manager and someone who is going to give us complete commitment and enthusiasm.
"We would only ever appoint somebody who clearly demonstrated to us that they really want the job.
"It's a big job and an exciting job and I think we'll find the right candidate.
"I hope our fans understand that this process is continuing and we are still confident in our position in terms of the timing and I am sure we will get a really good candidate."
Clark has become available after his surprise sacking by Huddersfield last week although he lacks Premier League managerial experience.
Moxey said: "We said this was not a job for a novice and I don't want to get drawn on individuals.
"Lee Clark had clearly done a good job at Huddersfield and we are aware of his sudden availability. It is difficult, though, for us to speak of individuals."