Wolves are in talks with Al-Shabab manager Vitor Pereira to replace head coach Gary O’Neil, who was sacked by the club on Sunday.
The Premier League strugglers are looking for a swift appointment and the money they would have to pay as compensation to secure former Porto and Olympiakos boss Pereira, around £800,000, is not believed to be an issue.
Wolves have been assessing their options and have sounded other possible replacements, including ex-West Ham and Manchester United boss David Moyes.
Pereira, who is a frontrunner for the job, has been in charge at Al Shabab since February, finishing eighth in the Saudi Pro League last season. They currently sit sixth after seven wins from 13 games.
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.
