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Wolves chief executive Jez Moxey has said that the club will not be looking at the possibility of selling of their key players in the summer after their relegation from the Premier league was confirmed following the 2-0 defeat at the hands of Manchester City.

Even though it has been known for quite a while that Wolves were going down, the club would not have expected to be the first to drop out of the Premier league this season.

This brings an end to their three-year stay in the Premier league. A lot has been spoken about the player wages at Wolves, but Chief executive Jez Moxey has said that the club will be able to deal with the situation quite comfortably.

Wolves will be receiving the parachute payments for the next two seasons in the Championship. The significantly improved parachute payments is expected to help Wolves over the next couple of seasons, as they look to return back to the Premier league.

Wolves have been on the down ever since sacking manager Mick McCarthy. The club have not been able to appoint a suitable replacement in his place. The promotion of assistant manager Terry Connor to the post of the manager of the club certainly has not worked.

"I am not sure it is inevitable we will lose players. I think there will be interest in some of our players but we are in a very good financial position. We have got players under long-term contracts, we are under no pressure to sell. But let's get the season finished, get a manager in place, get that sorted out and then address the reshaping of our team that is required. It is an opportunity to try to get stronger," he told Sky Sports News following the 2-0 defeat against Manchester City at the Molineux.

Former Birmingham City defender Roger Johnson's future at Wolverhampton Wanderers after it was revealed that the club are considering selling him in the summer.

Roger Johnson was signed for £ 4.5 million by Wolves in the summer. He was made captain of the team by then manager Mick McCarthy.

However, he recently turned up for the training in the worst possible fashion. Alcohol is said to have played a major role in Roger Johnson's recent misdemeanour.

Following the incident, Roger Johnson has been informed that he will be fined up to £ 50,000 – two weeks wages. Further inquest has been ordered into the incident.

This is definitely not the kind of PR that Wolves need right now. They're struggling down in the relegation zone of the Premier league. The sudden sacking of Mick McCarthy drew intense criticism from the media. The 5-0 defeat at the hands of Fulham during the weekend proved that the sacking of Mick McCarthy was the worst possible decision Wolves could have taken at this stage of the season.

Following the sacking of Mick McCarthy, Wolves announced that they would be appointing a permanent manager, but they appointed a caretaker manager instead. All the happenings around Roger Johnson seems to have affected as well.

“It had better be a one-off. He has done it once and he has been punished for it. He won’t want to be doing that again. If any player did that I would be disappointed. Roger knows his responsibilities, he knows he’s club captain. It was out of character and it was out of order to do it, to come in and not be fit to train," Wolves manager Connor said regarding the Roger Johnson incident. Despite the incident, Roger Johnson still continues to be the captain of Wolves.

Wolves chief executive Jez Moxey has said that the search for a new manager to replace Mick McCarthy is going well.

Wolves recently sacked manager Mick McCarthy after a string of poor results meant that the club have no other option than to sack him in order to provide themselves with an opportunity of staying in the Premier league next season.

Mick McCarthy has been extremely successful during his 5 1/2 years with Wolves. He has been not only able to guide the team to the Premier league, but has also kept them in the first division so far without any major hiccups.

However, fans have been demanding a change in the last few months, and the demands have intensified over the last few weeks after a string of poor results have left Wolves just clear of relegation zone on goal difference.

Further, the 5-1 defeat at the hands of West Brom during the weekend also made it extremely difficult for Mick McCarthy to continue with the increasing fans animosity. Finally, the decision was made by the Wolves to sack the manager. Now, they are in search of a manager who can take them for the rest of the season and keep them in the Premier league next season.

"We said right from the start we would not be drawn on speculation about individual candidates. We're about halfway through the process, it's going well. We've seen some very good candidates, we've got some more candidates to see and we've got second interviews. We're looking forward to getting through the next," Wolves chief executive Jez Moxey said in a recent interview given to Skysports.

Wolves will be travelling to Newcastle United next weekend hoping to get at least a draw, which will help them keep afloat in the table before the appointment of a new manager.

Wolverhampton Wanderers midfielder Stephen Hunt has said that every Premier League player is now sneakier than ever when it comes to getting other players sent off.

Even though Wolves have been playing in the Premier League for quite some time now, they have been struggling with relegation in every single season. Many had expected Wolverhampton Wanderers to move away from the relegation zone just like Stoke City did after signing a number of high profile players. However, it has not happened, as the likes of Stephen Hunt and Stephen Fletcher still continue to play a major role for the club.

After the 1-1 draw with Arsenal on Boxing Day, Stephen Hunt has said that Wolves need to be more clever in order to get the necessary points required for survival. Wolves are currently just one place above the relegation zone, with only two points separating them from 18th placed Wigan athletic. This is certainly a precarious position and there have been a lot of calls for manager Mick McCarthy to be sacked, although he was one of the important aspects of the club in their survival story in the League so far. Wolves had a man sent off against Arsenal, but was still able to come back to the Molineux with a point.

"Players are clever, the reactions sometimes do not help the referee. Everyone does it now. We should be maybe better at it than any other team. We have been done in the past - like with [Jonathan] Woodgate [against Stoke], we should have been surrounding the referee to get him sent off. Every team does it, so we don't do it and get punished. Maybe we should start doing it," Stephen Hunt said after the match. Wolves have announced that they will be appealing against the red card to Nenad Milijas.

Wolverhampton Wanderers manager Mick McCarthy has denied speculation that the number of changes that were carried out in his team was responsible for the 3-0 loss against Chelsea at Stamford Bridge. Ahead of the crucial match against Chelsea, Mick McCarthy made four changes to the team.

Chelsea were coming into the match on a poor run of form and Wolves could have easily taken advantage of it. However, they were extremely poor in the first half, as Chelsea raced to a 3-0 advantage in the first half. Even though Wolves put up a great fight in the second half and restricted Chelsea from scoring further, it proved to be a chance lost for Mick McCarthy more than anything else.

Apart from the win over Blackburn Rovers, Chelsea have been suffering defeats in a number of matches in recent weeks. Wolverhampton Wanderers could have easily added even more misery for new manager Andre Villas-Boas, but didn't try to press the Blues.

Manager Mick McCarthy has said that the changes are not to blame for the loss against Chelsea. After the match, he said “There has been some disruption to the team with the four changes but that’s not the reason we lost. We’ll never really know what effect it had because we conceded after just seven minutes – we never really even got started. Unfortunately, it ripped the heart and soul out of a team finding it tough.”

After seeing his side struggle in the match, McCarthy switched the formation to a conventional 4-4-2. It proved to be the masterstroke in the second half, as Chelsea could not find a way past Wolves. In fact, Wolves came very close to scoring themselves had it not been for the excellent goalkeeping from Petr Cech.