The Premier League strugglers officially asked the Championship leaders for permission to speak to Beale, 42, a former assistant of Steven Gerrard at Rangers and Aston Villa, but he will remain at QPR.

"Wolves is a fantastic football club and it was a real privilege to be asked to speak to them but I didn't think it was the right moment because I entered into an agreement here," Beale, who was appointed in June on a three-year contract, told QPR's website.

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"Integrity and loyalty are big things for me, and if they are the values you live by you have to be strong. I have been all-in here and I have asked other people to be all-in so I can't be the first person to run away from the ship."

Wolves have considered a number of managers including former Lyon boss Peter Bosz and Nuno Espírito Santo - who was in charge at Molineux between 2017-2021 - but were impressed by Beale's growing reputation and potential.

QPR's 3-0 win over Cardiff on Wednesday night moved them top of the Championship and although Beale admitted afterwards that it would be a "dream" to manage in the Premier League, he does not want to leave the job unfinished.

"I really did try to be honest in all the interviews I did and the most important thing was keeping the players focused on the job in hand, which was last night's game against Cardiff," said Beale.

"When I joined the club in the summer I found an ownership that was really honest with me about what they wanted. They gave me my first opportunity to be a manager and I took that task on with a lot of enthusiasm and excitement.

"They enabled me to build a management team and they enabled me to recruit some players that I really wanted to work with. I had to speak to them (new players), sometimes their parents, sometimes their wives, to convince them that QPR was the right place to come.

"I don't think we are anywhere near where I want QPR to be. We have a lot to do but I'm excited by it."

Wolves slipped into the Premier League relegation zone on Tuesday after suffering their fifth defeat of the season in a 2-1 loss at Crystal Palace.

What's next for Wolves?

Wolves have an important clash against fellow strugglers Leicester at Molineux on Sunday; kick-off 2pm. They then face Brentford, Brighton and leaders Arsenal before the World Cup.