Wolves legend Steve Bull believes the club must act quickly to appoint the successor to ex-manager Glenn Hoddle.

With the season starting on 5 August, Wolves are leaving little time for the new man to put together a side that can challenge for promotion.

Bull, who has applied for the job himself, told BBC Sport: "It is the worst situation you could think of at a football club in pre-season. "They need stability but there is no manager and a small squad."

He added: "The sooner they sort it out the better. Not just from my point of view but for everybody associated with Wolves. I know the club are working hard to find a successor to Glenn and unfortunately these things take time."

"Whoever comes in will have to work with a tight budget and it is going to be a completely different challenge to how it has been in the past."

"The manager has got to be one of those who has done it in the lower-leagues without the money."

"In the past we have had former England managers but now I think it needs to be someone who has proved themselves in non-League or League One and Two."

Bull, 41, scored over 300 goals and won 13 England caps in 13 years playing at Molineux between 1986 and 1999. He does not feel he is ready to go it alone as Wolves boss but instead hopes to work in tandem with a more experienced manager. When Hoddle initially got the job in December 2004 Bull had teamed up with former Aston Villa and Derby boss John Gregory to apply unsuccessfully - and he has a similar formula in mind this time if he does get the job.

"I have emailed Wolves chief executive Jez Moxey saying I would love to be involved," Bull explained.

"It would be with another party, obviously someone a bit more experienced than myself. I would learn from them for a few years and then carry on myself."

"There are quite a few other people that I can't name at this moment who I have spoken to that would love to join me down there. We will just have to see how it goes."

"That is the ideal situation for me. I need to learn. I'd like to be an understudy for two or three years and see how I get on from there.

"There are certain players that would want to see me back at the club but a lot of other people who wouldn't because they held me in such high esteem as a player and they don't want to see me failing as a manager - but they have got to put that to one side."

Bull and veteran Wolves midfielder Paul Ince were among over 20 applicants for the job and a spokesperson for Wolves told BBC Sport that the club are in the process of interviewing candidates.

Interview by Chris Bevan - BBC Sport