Sylvan Ebanks-Blake, Stephen Hunt and Christophe Berra have been released by Wolves after the club's slide into League One.
Wolves' relegation from the npower Championship was finally confirmed as they went down 2-0 at Brighton.
Wolves boss Dean Saunders admits a host of players will be on their way out of the exit door should the club drop into the third tier of English football.
Cardiff City won promotion to the Premier League with a goalless draw at home to Charlton.
Kevin Doyle's second-half strike was enough to clinch three massive points for relegation-threatened Wolves and at the same time put a dent in Hull's bid for
Huddersfield came from behind to claim a 3-1 win and push Wolves further into relegation trouble in the npower Championship.
Bolton boss Dougie Freedman urged his side to get over the finishing line after the Trotters continued their late play-off push.
Bolton produced a flying start to leave Wolves shellshocked and secure a seventh consecutive home win in the npower Championship, emerging 2-0 victors.
Dean Saunders hailed his Wolves side for producing a "massive" derby victory over Birmingham despite playing twice in three days.
Round-up: Cardiff moved seven points clear at the top of the Championship with a comfortable 3-0 victory over Blackburn.
Birmingham boss Lee Clark cut a frustrated figure after his side's 3-2 home derby defeat to Wolves and felt his players approached the game in the wrong way
Wolves climbed out of the npower Championship relegation zone thanks to three first-half goals which proved enough to see off battling local rivals Birmingham 3
Neil Lennon has revealed he is considering a second move for Wolves striker Kevin Doyle.
Aiden McGeady has been ruled out of the Republic of Ireland's World Cup qualifying matches against Sweden and Austria.
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