Dean Saunders' successor as manager at Molineux faces "a massive task" to lift the club in readiness for an instant return to the npower Championship, says former Wolves goalkeeper Matt Murray.

Wolves sacked Saunders, 48, following the club's relegation to League One and are now in the hunt for their fifth permanent manager in less than 15 months. Former Burnley and Bolton manager Owen Coyle, Peterborough's Darren Ferguson and Kenny Jackett, who resigned from his post as Millwall boss, have been installed among the early favourites for the job.

"The Wolves players have to realise that in every single game they're going to be a massive scalp," Murray told Sky Sports News.

"In the Championship Wolves are a big scalp, but in League One other clubs will go there desperate to play them and when they go away to these teams, it's going to be a lion's den. But everything is geared up there with all the staff behind the scenes and everything else and the budget.

"I think they've still got £16million of parachute payments and everything else, then I believe Wolves can get back. But the appointment, the person who comes in, it's a massive task just to lift the whole place."

Sheffield Wednesday boss Dave Jones, who spent nearly three years in charge at Molineux from January 2001 to November 2004, has also been linked to a return and would be a popular choice with fans.

Saunders replaced Stale Solbakken in January, but won just five of his 20 games in charge and could not prevent Wolves from plunging to a second successive relegation.

Murray added: "Darren Ferguson on his budget at Peterborough has done an unbelievable job. He's been promoted out of League One before, and very nearly kept them in the Championship. They play a very attractive brand of football, he's got good connections throughout the game, so I believe he could lift the place.

"Owen Coyle is obviously proven and has taken Burnley out of the Championship, has done well with Bolton as well and is very likeable, so he would come in with enthusiasm.

"I think the club and fans want to see someone lift the place, give them that confidence. They've gone with a couple of inexperienced people, now they want to go with people who have a bit more experience."