Rob Edwards together with O'Neil both have previous connections with the club
Rob Edwards along with O'Neil are two of the initial candidates under consideration to replace the former manager as head coach of Wolverhampton Wanderers.
Pereira was dismissed on Sunday after the team's 10-match without a victory start to the top-flight season.
And Edwards and O'Neil - each of whom have previous links to the club - are among the names to be evaluated by the club leadership.
Edwards is presently at Middlesbrough, which would create a possible obstacle to his hiring at Molineux.
However the former Luton Town head coach - who played more than 100 of games for the club during his time as a player - is considered a strong contender for the vacancy.
The 42-year-old is said to have support from the club directors as they begin the search of hiring a new head coach.
Gary O'Neil is also appearing as a surprise contender, even though he would be a shock choice considering he was sacked by the club in the previous winter.
The ex- West Ham midfielder is out of work meaning Wolves would not need to pay any compensation.
A seasoned betting analyst with over a decade of experience in online casinos and sports wagering, sharing expert advice and strategies.