The scenario led to as much frustration among the fanbase as it did with Julen Lopetegui, who opted to depart Molineux rather than take on the challenge of rebuilding the squad.
Gary O'Neil was quickly drafted in as a replacement, the Englishman jumping at the opportunity to work with what is still a talented squad and one that features an array of prospects and younger talent.
However, such is the numbers in the Wolves ranks that they have a competitive senior group and the leeway to allow 16 other players to spend periods out on loan.
Here, Sports Mole takes a look at how the players in question are faring at their temporary homes, including talent who perhaps have little future at the West Midlands outfit.
SENIOR PLAYERS
While Yerson Mosquera has been out on loan since February, he is perhaps the player most likely to eventually break into O'Neil's plans, a consequence of the defender starring in an FC Cincinnati side that sits at the top of the MLS table.
After over 18 months of frustration at Wolves, Mosquera has gone on to make 30 appearances in all competitions, scoring twice, and he is currently due back at Wolves at the end of December.
On the back of a year on the sidelines with a serious knee injury, the plan had been for Chiquinho to spend the first half of the campaign on loan at Stoke City, only for the Potters to change their mind after 120 minutes of football spread over four outings.
Instead, the Portuguese winger is now in his homeland with Famalicao, where he has already been given 154 minutes of football in three Primeira Liga appearances.
Staying with Stoke and Ki-Jana Hoever is in his second stint at the bet365 Stadium, the right-back featuring on 11 occasions in all competitions with one goal and two assists being contributed during that period.
Midfielder Luke Cundle has had chance to showcase his ability at Plymouth Argyle, chipping in with three goals and one assist from nine matches in the Championship.
Chem Campbell had started well at Charlton Athletic, posting assists in his first two outings, but he has earned just three minutes across the last four matches in League One.
Since returning to Benfica on loan for a second time, Goncalo Guedes has been going through the final stages of his recovery from injury, but he was fit enough to make his first appearance last weekend, a brief outing from the substitutes' bench versus Estoril Praia.
PROSPECTS EARMARKED AS FUTURE FIRST-TEAM PLAYERS
Rotherham United may be struggling in the Championship, but Wolves are getting what they wanted with regards to the development of Dexter Lembikisa.
The right-back has already made 10 starts and one substitute outing for the Millers, Lembikisa also scoring in the 2-1 victory over Norwich City.
Down in League Two, forward Tyler Roberts is yet to net his first goal for Doncaster Rovers, yet three starts and seven substitute appearances is a suitable introduction to senior football for the 19-year-old.
Wolves prefer their younger goalkeepers to go out on loan and earn regular football, rather than remain on the substitutes' bench, and Louie Moulden has made 15 appearances for Rochdale in the National League during 2023-24.
Meanwhile, defender Nigel Lonwijk - who impressed in League One with Plymouth last season - is yet to make an appearance for Grasshopper Zurich in Switzerland.
ACADEMY/UNWANTED PLAYERS
Although Wolves had hoped to sell Daniel Podence in the summer, they had to find a middle ground, extending his contract by a year and allowing him to return to Olympiacos.
So far, the switch has been a huge success, the winger already contributing four goals and three assists from his six appearances in all competitions, two of which have come in the Europa League.
Hungary international Bendeguz Bolla is currently plying his trade at Servette, the right-back also enjoying Europa League football with the Swiss outfit and making seven appearances in total.
Theo Corbeanu joins that pair in likely not representing Wolves in the future, but the Canada international has at least enhanced his stock through one goal and three assists coming from his 10 starts at Grasshopper Zurich.
The trio of Alfie Pond, Ollie Tipton and Harvey Griffiths all find themselves playing in League Two, but neither have enjoyed particularly productive spells.
Defender Pond has just 108 minutes across five appearances to his name for Stockport County, while Tipton is yet to make a league outing for Notts County and only made his first start in an EFL Trophy tie in midweek.
Griffiths has been used in a similar manner by Walsall, the midfielder featuring for just 13 minutes in the league and earning 63 minutes from a start in the EFL Trophy against Forest Green Rovers on Wednesday.