Wolves are in talks with Nuno Espirito Santo about their former manager returning to Molineux.
The club are conducting an extensive recruitment process after Spaniard Julen Lopetegui turned down the job.
Portuguese coach Nuno was effectively sacked in 2021 after a difficult season where performances dipped following successive seventh-placed finishes.
He remains popular with Wolves fans despite a brief, unsuccessful spell at Tottenham.
The 48-year-old was sacked by Spurs in November after just four months and 17 games in charge.
In July he was named coach of Saudi Arabian club Al-Ittihad on a two-year contract.