O’Neil was liked and had the loyalty of players, but decision-makers saw no alternative. This season’s run of 11 defeats in the first 16 games continues a disturbing trend seen towards the end of the previous campaign.
And O’Neil had already been on the edge once. Sources told BBC Sport that O’Neil’s team agreed that failure to beat Southampton on November 9 could have been fatal. A 2-0 win and a surprise 4-1 win over Fulham later that month was a stay of execution.
Ultimately, a disastrous 4-2 home defeat to Bournemouth in which the team conceded three penalties, and a blow at Everton meant a change became almost inevitable.
O’Neil leaves Wolves with just two wins and a game against Leicester City before Christmas.
The loyalty shown by Shi and sporting director Matt Hobbs will be questioned, but Wolves have been here before, replacing Bruno Lage with Julen Lopetegui when they were also in second place two years ago. They know that a mid-season switch can pay off, even if there is little money to spend that time.
After the defeat to West Ham, O’Neil lamented the loss of “£200m of talent”. a thinly veiled critique of ownership.
O’Neil worked within these constraints. Just last month he said the club was still trying to adapt to new financial realities despite paying in almost £100m from the sales of Max Kilman and Pedro Neto, on top of the £100m raised by the departures of Ruben Neves and Matheus Nunes 2023.
“We are still trying to stabilize the situation. Then there is progress. Discussions about the club’s development will come later,” O’Neil said.
The requirement to comply with the Premier League’s Profit and Sustainability Rules (PSR) meant Wolves sold valuable assets and Neves and Nunes left last year.
Gone are the days when we finished seventh in a row and reached the quarter-finals of the Europa League after advancing under Nuno Espirito Santo. Instead, they face a fight for survival, unable to spend £30-40 million on a player.
The wolves are working to find their new identity, and O’Neil may claim he was the victim.
