Wolves were yesterday guaranteed a second successive campaign in the Barclays Premier League following Burnley's 4-0 home defeat to Liverpool.

That has prompted chief executive Jez Moxey to wax lyrical about McCarthy, who is also now being backed to go on and win a trophy at Molineux.

"Mick has to be the best Wolves manager in 30 years. He's as good as we've had in recent times," said Moxey in the Express & Star.

"He's done something no other manager here has achieved in winning a title (last season's Coca-Cola Championship) and keeping us in the Premier League.

"Let's hope he can go on and win a major trophy for us - that's our aim, to re-establish this club as a major force in the land.

"People will say it's a pipe dream, but if we look at what Everton have done, why can't he?

"He's done a great job and he will be here a long time. We are happy with him and he is happy with us.

"Mick has done a magnificent job when many people were saying he couldn't manage in the Premier League. This is a major achievement for this football club."

Moxey's comments put McCarthy ahead of the likes of Graham Turner, Mark McGhee, Dave Jones and Glenn Hoddle.

But Moxey added: "I think he has been the ideal leader for this group of players.

"His calmness and confidence in the players has created the best environment for them to flourish and they have got better and better as the season has gone on."

As a reward, Moxey has promised McCarthy further funds this summer to continue strengthening the squad.

"We will carry on trying to build this team and trying to get it better year on year," said Moxey.

Wolves striker Chris Iwelumo, meanwhile, believes the club's battle to beat the drop next season will be even more difficult.

Although Wolves are celebrating, and they have a platform on which to build for next season, Iwelumo is already warning of tough times ahead.

"There are a lot of positives, and I am sure we can work on the negatives and we are only going to get stronger," said Iwelumo.

"Next year we will bring in a bit of quality, but it is going to be a hard season again.

"We are going to be fighting again and with a little bit of luck we won't be sucked into that bottom part, but it is a hard league.

"We can all dream we can be up there, but I'm telling you now next season will be just as hard, if not harder, because people know what to expect.

"Look at the teams coming up - Newcastle and West Brom. They've been there, done it, have strength in depth and money behind them.

"So all we can do is make sure we get the right players and right characters in with the right work ethic and hopefully that little bit of quality, and build slowly but surely."