[3] After searching for a new permanent successor for eleven days, the club opted to hand assistant manager Terry Connor the managerial post for the rest of the season.

This season opened with the capacity of Molineux reduced due to the ongoing rebuilding of the new Stan Cullis Stand (North Bank) making it unavailable for use.

Jamie O'Hara, who had spent part of the previous season on loan at Wolves, was tied to a permanent deal,[8] while defender Roger Johnson who had suffered relegation with Birmingham City was also bought.

[9] Goalkeeper Dorus de Vries was signed on a free transfer, having rejected a new deal at newly promoted Swansea, to provide competition to Wayne Hennessey.

[12] After returning to England the team undertook six pre-season matches, concluding with the only friendly at their Molineux home, a game against La Liga side Real Zaragoza.

[13] Competitive action began with a 2–1 victory at Blackburn, the same opponent that they had faced on the final day of the previous season when they narrowly avoided relegation.

[14] A second win arrived in their next fixture, a home game against Fulham which was played with the North Bank stand closed to spectators due to its on-going reconstruction.

The two North London clubs also provided Wolves with their two loan signings of the January window with defender Sébastien Bassong (from Tottenham)[17] and midfielder Emmanuel Frimpong (from Arsenal) joining for the remainder of the campaign.

[24][25][26][27] The search for McCarthy's successor began immediately, with CEO Jez Moxey setting a provisional timetable for an appointment before their next fixture in twelve days time.

[38] However things soon fell apart under Connor's control with the team losing their next seven consecutive matches, including a pair of 0–5 defeats, that left them mired at the foot of the table.

[39] Although a goalless draw at Sunderland in mid-April eventually halted their losing streak, as well as a club record run of 30 league games without a clean sheet,[2] only a finish of four consecutive wins could by this point prevent relegation.

[40] On the eve of their final fixture the club announced that Connor, who had hoped to become a permanent appointment,[41] would not be retained as manager and Norwegian coach Ståle Solbakken would instead take charge from July onward.

The provisional fixture list was released on 17 June 2011, but was subject to change in the event of matches being selected for television coverage or police concerns.