The 54-year-old's contract was terminated on July 29 following a takeover from Chinese conglomerate Fosun International

In a statement through the League Managers Association, Jackett praised the club and thanked staff and fans for their support.

LMA Statement on behalf of Kenny Jackett:

"We undoubtedly made very significant progress; from earning promotion back to the Championship with a record 103 points in League One, to narrowly missing out on the play-offs on goal difference the following season. I also take great pride in the achievements of the team and coaching staff in consolidating our status as a Championship club and I am confident that strong foundations are now in place to enable Wolves to continue towards its aim of securing promotion back to the Premier League.

"An important part of our strategy was to improve the first team by developing our own players and, in doing so, we were able to integrate young, local lads from the Wolves' academy, which is producing some fantastic talent. I have no doubt that these young players will play a huge role in the club's future.

"The Championship is going to be an extremely competitive and challenging league this year but I have faith in the squad we leave behind and wish the players the best of luck.