Australian Day led by two shots heading into the final round and a closing 69 saw him finish on 12 under par for the week, two clear of Americans Nick Watney and Aaron Wise.

Day made an early birdie at the second after hitting his approach to six feet but dropped shots at the fifth after finding a bunker and sixth having missed the green.

Close-range gains at the seventh and eighth put the 30-year-old back on track and after another birdie on the 10th, Day overcame bogeys at the 13th and 14th.

Day picked up a shot from 10 feet at the 16th and saw his tee shot on the 17th bounce out of the hole to leave a tap-in for birdie.

The 21-year-old former NCAA champion Wise shot a closing 68, while Watney holed a monster birdie putt on the last for a 69 to join him on 10 under, with Bryson DeChambeau a shot further back in fourth.

England's Paul Casey was the top European on seven under - good enough for a share of fifth alongside Americans Phil Mickelson and Peter Uihlein.

Day three report

Australian Jason Day will hold a two-shot advantage ahead of the final round of the Wells Fargo Championship at Quail Hollow Club.

The world number 14 started the third round just one shot behind Peter Malnati but as the American tumbled down the leaderboard with a four-over 75, Day climbed into pole position on 10 under par with an impressive 67.

Day bogeyed the fifth before picking up that shot at the ninth and continued the upward trend with birdies at the 10th, 12th, 14th and 15th to turn in for 32.

Sky Bet make him 8/11 to win for the second time this season and it's 8/1 bar.

American Nick Watney registered 66 to sit in sole second, while compatriot Peter Uihlein is in a group of four players one stroke further adrift after he recorded a remarkable bogey-free 62 to move to seven-under-par.

Uihlein, who started the round at two over, carded five successive birdies from the fifth before hitting an eagle at the 10th to go seven under in six holes, adding two more gains at the 14th and 15th to cap off a stunning display.

Englishman Paul Casey also sits on seven under after recovering from two early bogeys to add two birdies and a eagle for a two-under 71.

Five-time major champion Phil Mickelson is on five under, while Northern Ireland's two-time event winner Rory McIlroy recovered from his second-round 76 to move to three over par.

Tiger Woods mixed six birdies and three bogeys to produce a three-under 68 to climb up to one under par and a tie for 31st place overall.

Day two report

Overnight favourite Rory McIlroy tumbled down the leaderboard at the Wells Fargo Championship after carding a second-round five-over-par 76.

McIlroy, who lay three shots off the lead after an opening 68, shot two birdies, five bogeys and a double-bogey six at the 11th to slip to two over for the tournament.

That was nine shots off the pace set by American Peter Malnati, who fired a 68, including two birdies in his final three holes, to go with his opening 67.

Aaron Wise and Jason Day were a shot back on six under par after a 68 and a 67 respectively, while England's Paul Casey was in a tie for fourth on five under with South Africa's Charl Schwartzel after a 68.

Day is Sky Bet's 5/2 favourite ahead of Casey at 5/1. Emiliano Grillo, tipped pre-tournament at 80/1 by Ben Coley, is into 28/1 and sits four off the pace in tied seventh.

Tiger Woods joined McIlroy in struggling, following his first-round 71 with a 73 to sit alongside the four-time major winner on two under.

Day one report

The Northern Irishman, who was in contention at Augusta National before fading badly, carded a three-under-par 68 on his return to action and is 4/1 to win at the course for the third time in his career.

McIlroy mixed five birdies with two bogeys on the eve of his 29th birthday and looked set to finish the day a shot adrift of the leading pack, until Peterson sunk back-to-back eagles late in his round.

"I love this place," McIlroy was quoted as saying by the PGA Tour. "I feel like I don't have to play that well and I can still get it around."

World number two Justin Thomas - joint favourite with McIlroy before the tournament at Quail Hollow - could only post a 73, while Masters champion Patrick Reed and Tiger Woods finished level par.

England's Tyrrell Hatton is among a five-strong chasing pack on four under, with McIlroy one of 10 players a shot adrift.

Peterson has pledged to retire from golf if unable to earn back his PGA Tour playing rights following an injury lay-off.

The 29-year-old, who says he enjoys his time away from the game more than playing, has three events left to earn in the region of $300,000 - something he can do with a top-two finish this week.

"I'm kind of freewheeling it at this point," he told Golf Channel. "I know a little bit has been said about me retiring if I don't make the necessary money for my medical starts, and all that's true. If I don't make it, I'm not playing golf anymore."

"I’m going to try to win this golf tournament, I promise you. I’m going to do everything I can to win. But if it doesn’t happen – whatever, you know? I’ve got everything in place. Either way is fine with me."