Edwards and Gary O'Neil both have past links with the club
Edwards and O'Neil are two of the initial candidates under consideration to succeed the former manager as manager of Wolves.
The previous coach was sacked on Sunday after the team's ten-game without a victory start to the top-flight season.
And Edwards and O'Neil - each of whom have historic links to the club - are part of the options to be evaluated by the Wolves ownership.
Edwards is currently at Middlesbrough, which would pose a possible obstacle to his hiring at Wolves' stadium.
Nevertheless the ex- Luton Town head coach - who made more than 100 of appearances for Wolves during his playing career - is considered a leading contender for the position.
The 42-year-old is reportedly enjoys support from the club directors as they begin the search of hiring a new manager.
O'Neil is additionally appearing as a unexpected contender, even though he would be a surprising choice considering he was sacked by Wolves in December last year.
The ex- West Ham United midfielder is currently unemployed meaning the club would not need to pay any compensation.
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Robert Peterson
Robert Peterson
Robert Peterson
Robert Peterson