Reading manager Brian McDermott has signed a new three-and-a-half-year contract in a move which looks to have ended Wolves' chances of taking him to Molineux.

The npower Championship club have announced McDermott, who was operating under a 12-month rolling contract, has committed himself to the Madejski Stadium until the summer of 2015. Wolves had identified McDermott as a potential candidate to replace the sacked Mick McCarthy but those hopes have now been dashed.

Reading, in a statement, said: "We are delighted to announce that manager Brian McDermott has this afternoon agreed a new contract to keep him at Madejski Stadium until the summer of 2015."

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