Wolves are in talks with Al-Shabab manager Vitor Pereira to replace head coach Gary O’Neil, who was released from the club on Sunday.
Premier League players expect a quick appointment and it is believed that the money they would have to pay in compensation to secure former Porto and Olympiacos coach Pereira is not an issue.
Wolves are assessing their options and putting forward other possible successors, including former West Ham and Manchester United coach David Moyes.
Club sources told BBC Sport that Pereira is the favorite for the job.
Pereira has been leading Al Shabab since February, finishing eighth in the Saudi Pro League last season. They are currently in sixth place after seven wins in 13 matches.
The 56-year-old Portuguese won two Primeira Liga titles with Porto in 2012 and 2013 and the Greek Super League with Olympiakos in 2015.
The Wolves squad is not due to return to training until Tuesday and Pereira could be in charge until then, with his first match on Sunday at Leicester taking place if negotiations go to plan.
O’Neil was sacked on Sunday morning following Saturday’s 2-1 home defeat to Ipswich, which left the team second in the table, four points adrift of safety.
His backroom staff, including Tim Jenkins, Shaun Derry, Ian Burchnall, Neil Cutler and Woody Dewar, have also left.
Wolves chairman Jeff Shi said: “We are very grateful to Gary for all his effort, dedication and hard work during his time at the club and we wish him and his team all the best for the future.”
The departure of the 41-year-old comes only three days after Shi said the club was “united” behind O’Neil following Monday’s 2-1 defeat to West Ham.
Saturday’s defeat was their 11th in 16 Premier League games this season and they have won just twice in the top flight.
O’Neil replaced Julen Lopetegui just four days before the start of the 2023–24 season, with Wolves finishing in 14th place.
