The Serbia midfielder was dismissed in Tuesday's Barclays Premier League draw at Arsenal following a challenge on Mikel Arteta, a decision Wolves felt was "hugely disproportionate". They appealed to the Football Association only to see the referee's original call upheld.
That means the midfielder faces a three-match ban, taking in games against Bolton, Chelsea and Birmingham, in the FA Cup, and in response to the decision, Wolves club secretary Richard Skirrow released a statement which read: "We are hugely disappointed with (Thursday's) ruling."
The statement continued: "From the video evidence of that challenge alone, we strongly believed we had very good grounds for appeal and this was an opinion that seemed to be shared by a lot of people who have viewed the incident.
"Our view that the dismissal and three-match ban would be hugely disproportionate to the alleged offence was further reinforced by other incidents in the game.
"However, despite highlighting the inconsistency and harshness of Nenad's dismissal, we have been told that it was not deemed to be an obvious and serious error and, therefore, the original decision and resulting punishment stands.''
Skirrow added: "In our view it was certainly not serious foul play.
"Prior to Tuesday, Nenad had also only six cautions in English football and no suspensions.
"Likewise, as a club, we are not serial appealers of red cards.
"In fact, on further reflection, 'disappointed' doesn't seem to do justice to the feelings of everyone at the club on hearing this decision.''
Source: PA
Source: PA