Updated: Just as we were about to publish this article, former Rangers manager Walter Smith has emerged as favourite to take the Wolves managers job. Smith is believed to have held talks with Wolves owner Steve Morgan and chief executive Jez Moxey about taking over until the end of the season after their original choice Alan Curbishely turned them down, and they aren't certain of Steve Bruce's credentials to keep them in the division. 63 year old Smith has reportedly turned down the Wolves job permanently but does want to see if he can keep them in the division with the 13 games remaining, before seeing if he wants the job indefinitely. Smith has been out of work since ending his second spell as Rangers boss last year. He was previously manager of Everton for four years, is a former manager of Scotland and was even Sir Alex. Ferguson's assistant at Manchester United for a brief spell at the end of the 2003-2004 season. It is hoped Walter Smith will be appointed before the trip to Newcastle on Saturday. Original article follows... On Saturday afternoon Wolves have the daunting task of traveling to Newcastle, however the manager who will be leading them for the rest of the season is still to be determined. When Mick McCarthy was deemed surplus to requirements by Wolves earlier this month, the search started for a suitable successor. The fans were told the club would strive to appoint someone swiftly, but now that evident number one preference Alan Curbishley has turned down the position, it seems the search duration may be heightened. It was clear to see why Wolves would have Curbishley as their primary candidate. His experiences with Charlton and West Ham, give Curbishley a superior knowledge of the Premiership compared to all remaining candidates in contention. Wolves have still not affirmed McCarthys successor, and as a result this seems to suggest they expected Curbishley to acquire the responsibility. Wolves are at a significant juncture in their season. All is not lost. They are on the precipice of relegation, but there are several teams all still facing the dreaded plummet into the Championship. If Wolves appoint the right manager, they will survive, and the ruthless sacking of McCarthy will be deemed astute. However, if they appoint the wrong candidate and get relegated, they will yearn for a different manager next season. This means Wolves need to appoint a manager who could manage in both the Premiership and the Championship. With the gargantuan difference in possible future income involved in this predicament, it is obvious why Wolves are taking slightly longer over their decision now Curbishley has pulled out of the running. Betting companies throughout the country have now made former Sunderland manager Steve Bruce as the favourite to take over at the Molineux, and it is hard to see anyone else attaining the job. His recent dismissal from Sunderland was not entirely necessary and subsequently did not impair his reputation greatly. Other names being mentioned comprise Lee Clark. The recently sacked Huddersfield Town manager has received notable attention since leading Huddersfield to an unbeaten forty-three match run. Also in contention is Gus Poyet, who has ventured through the lower divisions with Brighton waiting for a job akin to this. However both Clark and Poyet have never managed in the Premiership before, and this may go extensively against them. Some of the more unlikely candidates include Roy Keane, back in public interest after various televised punditry rants, and Gianfranco Zola. The friendly Italian would unquestionably be the neutrals choice, however his style and approach may be too contradictory to the legacy McCarthy has left behind. Sacking a manager at this point in a season can frequently provide that club with a boost to avoid relegation. Media-pleaser and quote-provider Mick McCarthy had to go. Merely winning one match in thirteen, and losing to rivals West Brom five-one was the final straw. McCarthy had taken the club as far as he could, and even though it might be hard for devoted Wolves fans to hear, he was no longer the right man for the job. A big problem was Wolves dependence on McCarthys passion and drive rather than footballing tactics. Like Neil Warnock at QPR, McCarthys passion wasnt enough, and didnt fit in with the new development of playing good football to evade the drop. Since Swansea and Norwich have been promoted, they have for the first time in recent years proved you can stay afloat playing good, organised and highly strategic football. Previously it seemed clubs wanting to stay afloat in the Premiership needed to grind out victories and produce effectual ugly football to win games. Managers like Sam Allardyce were renowned for their ability to keep average teams in Englands top league with this method. Wolves under McCarthy were in danger of becoming one of these outdated obsolete teams, and now have the opportunity to transform their attitude and form with a new manager.