Former Real Madrid and current Sevilla coach Julen Lopetegui is linked with a Molineux move.
that they parted ways with coach Bruno Lage after a 2-0 Premier League defeat to West Ham on Saturday.
The Wanderers are currently at the top of the relegation zone after four defeats, three draws and only one win on the board after eight games.
However, the 56-year-old is under contract with the La Liga side until 2024, meaning that Wolves have to wait until the club sack him if they avoid paying a fee for him.