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Rob Edwards together with O'Neil each possess past connections with the club
Edwards along with Gary O'Neil are two of the initial candidates under consideration to succeed the former manager as manager of Wolverhampton Wanderers.
Pereira was dismissed on Sunday after the team's ten-game without a victory start to the top-flight season.
Furthermore both candidates - each of whom have previous associations to the team - are among the names to be considered by the club ownership.
The manager is presently at another club, which would create a possible obstacle to his hiring at Molineux.
However the former Luton Town head coach - who played more than 100 of appearances for the club during his playing career - is considered a strong candidate for the position.
The mid-career manager is reportedly enjoys backing from the club board as they begin the search of hiring a new manager.
Gary O'Neil is additionally appearing as a surprise contender, even though he would be a surprising choice given he was sacked by Wolves in December last year.
The ex- West Ham United player is out of work which means Wolves would not need to provide any buyout fee.
Elara is a seasoned gambling analyst with a passion for responsible gaming and in-depth market trends.