Edwards together with O'Neil both have past links with the club
Rob Edwards along with Gary O'Neil represent the initial names in the frame to replace the former manager as manager of Wolverhampton Wanderers.
Pereira was dismissed on Sunday after the team's 10-match without a victory start to the top-flight campaign.
Furthermore Edwards and O'Neil - both of who have historic links to the club - are among the names to be evaluated by the Wolves ownership.
The manager is currently at another club, which would pose a possible obstacle to his hiring at Molineux.
However the former Luton manager - who made more than 100 of appearances for the club during his playing career - is considered a leading candidate for the position.
The 42-year-old is reportedly enjoys support from the Wolves directors as they begin the process of hiring a fresh head coach.
O'Neil is also emerging as a surprise candidate, even though he would be a surprising appointment considering he was released by the club in December last year.
The former West Ham United player is out of work which means the club would not be required to provide any buyout fee.
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