McCarthy sticks with Wolves

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Former Republic of Ireland manager McCarthy had been named on a two-man shortlist by KFA president Chung Mong-joon for the job along with former Liverpool manager Gerard Houllier.

But McCarthy told the club's official website: "I was very flattered to be contacted and to be considered a candidate alongside someone of the calibre of Gerard Houllier."

He added: "But I have always been committed to the job at Wolves and I`m staying."

McCarthy enjoyed success on the international stage in guiding Ireland to the World Cup finals of 2002 in Japan and South Korea.

But his reign was tainted by a bust-up with key player Roy Keane and he resigned after a poor start to the qualifying campaign for Euro 2004.

Wolves are currently in the Coca-Cola Championship play-off places and remain among the favourites to win promotion despite a 1-0 defeat to Barnsley on Tuesday night.

Chief executive Jez Moxey insisted that the club are satisfied with the job McCarthy is doing at Molineux and delighted that he has decided to stay.

He said: "The board is delighted with the job Mick is doing. He is totally committed to the club, the players, staff, supporters and the task at hand.

"When you have such a high-quality manager there is always going to be a chance that someone else will be interested in signing them. But we are pleased to confirm to our supporters that it`s business as usual at Molineux."