The Molineux outfit have sacked Mick McCarthy but have struggled to find a replacement; Alan Curbishley turned down the club’s offer of a short-term deal whilst Brian McDermott opted to stay at Reading rather than move to the Midlands side.
Former Rangers boss Smith had been named as an outside chance of getting the job, but the Scottish coach has admitted that he will not be returning to Premier League management.
“It’s true I’m not going (to Wolves),” he told the Express and Star.
“I was totally unsure whether I really wanted to do it or not. It was a purely personal thing, nothing to do with Wolves.
“I know Jez Moxey (Wolves chief executive) and knew I was more of a fall-back than anything. We didn’t even get as far as discussing money.
“There was never a face-to-face meeting and we never discussed finance. If someone asks you, you’re pleased to be asked, but the longer you think about it, you start to ask yourself whether it was right,” he concluded.
By Gareth McKnight
[ffcvideo file=”tfcbep4″ type=”mp4″ image_type=”jpg”]