Jody Craddock believes it is a 'sad day' at Wolves following the decision to sack manager Mick McCarthy.
The 53-year-old has departed Molineux in the wake of their 5-1 defeat by West Brom on Sunday in the Black Country derby.
The result means Wolves are third from bottom in the Premier League ladder with 25 games of the campaign passed.
Craddock, who is Wolves' longest-serving player, believes McCarthy has been fantastic for the club and believes his exit is a shame.
"It is always a sad day when something like this happens," Craddock told the club's official website.
"I've been at clubs when it has happened before and it's never nice. All we can do as players is keep our heads down and keep working hard.
"I've been here with the gaffer ever since he arrived and would just like to thank him for the support he has given me.
"He's been fantastic here and he'll walk into another job because he's got all the credentials.
"It's just a shame it has come to this and it's a sad day when it happens."
McCarthy guided Wolves to safety last season and former non-league winger Michael Kightly believes the feat was 'remarkable'.
"When he took over we were tipped to go down and what he achieved has been remarkable," said Kightly. "The boys are all gutted.
"We owe him a lot - it's a sad day for the players and all the staff and we wish him the very best for the future."
Stephen Ward, formerly of Bohemians, added: "The lads are devastated.
"He gave me my chance when I was playing in Ireland and I feel I've really progressed. He has turned me into a left-back and someone who has played in the Premier League and at international level
"I'll always be grateful for his guidance and what he's done for me at Wolves. We've got great memories from the Championship win and from the last two-and-a-half seasons in the Premier League."
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