McDermott had emerged as Wolves chairman Steve Morgan's top choice to replace Mick McCarthy, who was sacked earlier this month.
Royals owner Anton Zingarevich, however, has refused to allow the Premier League strugglers to speak to McDermott, according to The Sun.
Wolves face Newcastle United in the Premier League on Saturday afternoon.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Birmingham CityBirmingham | 28 | 20 | 6 | 2 | 50 | 19 | 31 | 66 |
| 2 | Wycombe WanderersWycombe | 29 | 17 | 8 | 4 | 55 | 30 | 25 | 59 |
| 3 | Wrexham | 29 | 16 | 7 | 6 | 43 | 25 | 18 | 55 |
| 4 | Stockport CountyStockport | 31 | 15 | 9 | 7 | 47 | 30 | 17 | 54 |
| 5 | Charlton AthleticCharlton | 30 | 14 | 8 | 8 | 40 | 29 | 11 | 50 |
| 6 | Huddersfield TownHuddersfield | 29 | 14 | 7 | 8 | 41 | 26 | 15 | 49 |
| 7 | Leyton Orient | 29 | 14 | 5 | 10 | 43 | 25 | 18 | 47 |
| 8 | Bolton WanderersBolton | 30 | 14 | 5 | 11 | 47 | 46 | 1 | 47 |
| 9 | Reading | 30 | 13 | 7 | 10 | 44 | 42 | 2 | 46 |
| 10 | Barnsley | 30 | 12 | 7 | 11 | 42 | 41 | 1 | 43 |
| 11 | Blackpool | 30 | 9 | 13 | 8 | 42 | 41 | 1 | 40 |
| 12 | Lincoln CityLincoln | 30 | 10 | 10 | 10 | 36 | 35 | 1 | 40 |
| 13 | Stevenage | 29 | 11 | 7 | 11 | 28 | 30 | -2 | 40 |
| 14 | Rotherham UnitedRotherham | 30 | 10 | 8 | 12 | 34 | 35 | -1 | 38 |
| 15 | Mansfield TownMansfield | 29 | 11 | 4 | 14 | 35 | 38 | -3 | 37 |
| 16 | Wigan AthleticWigan | 28 | 9 | 7 | 12 | 27 | 28 | -1 | 34 |
| 17 | Northampton TownNorthampton | 30 | 8 | 9 | 13 | 29 | 45 | -16 | 33 |
| 18 | Exeter CityExeter | 29 | 9 | 5 | 15 | 33 | 46 | -13 | 32 |
| 19 | Bristol Rovers | 29 | 9 | 5 | 15 | 29 | 45 | -16 | 32 |
| 20 | Peterborough UnitedPeterborough | 30 | 8 | 6 | 16 | 46 | 57 | -11 | 30 |
| 21 | Shrewsbury TownShrewsbury | 30 | 7 | 6 | 17 | 31 | 50 | -19 | 27 |
| 22 | Crawley TownCrawley | 29 | 7 | 6 | 16 | 33 | 53 | -20 | 27 |
| 23 | Burton Albion | 30 | 5 | 11 | 14 | 31 | 45 | -14 | 26 |
| 24 | Cambridge UnitedCambridge | 30 | 5 | 8 | 17 | 30 | 55 | -25 | 23 |
| > League One Full Table | |||||||||
