Wolves have sacked manager Dean Saunders and have begun the search for their fifth permanent manager in less than 15 months.

Saunders, 48, replaced Stale Solbakken in January, but won just five of his 20 games in charge and could not prevent Wolves from dropping into npower League One, the club's second successive relegation.

The Midlands club lost five of their last six matches of the season and former Doncaster boss Saunders is followed out of Molineux by assistant Brian Carey.