Former FC Copenhagen and Cologne coach Stale Solbakken is a leading candidate to become the new Wolves manager, Press Association Sport understands.
Solbakken is high on the list of names being considered to replace Mick McCarthy who was sacked as manager in February. The 44-year-old, a former Norway international, is odds-on with some bookmakers to take charge at Molineux for next season.
Interim manager Terry Connor has already been interviewed and it is understood Wolves want to retain his services in some capacity even if it is not as manager. Birmingham boss Chris Hughton has also created a favourable impression with Wolves owner Steve Morgan and chief executive Jez Moxey.
But Solbakken appears to be the favourite for the task of trying to regain Barclays Premier League status after this season's relegation. He has an impressive pedigree although his record took a knock last month when sacked by Cologne who were then third from bottom of the Bundesliga.
But before that former Wimbledon player Solbakken had led Copenhagen to five Danish titles. He is a former Norway international but his playing career came to an end after he suffered a cardiac arrest on the training ground while at FC Copenhagen, who were then managed by the new England boss Roy Hodgson.
Connor stepped up from the background staff to replace McCarthy until the end of the season but Wolves have not won any of his 12 games in charge.
Meanwhile, Moxey admitted Wolves could have acted earlier in sacking McCarthy. He said: "We can all be smart in hindsight. The most talked-about subject was the timing of the parting of Mick McCarthy. We could, and perhaps should, have acted before January but we'll never know if it would have worked had we pulled the trigger earlier."
Wolves came in for criticism for Connor's appointment but Moxey admits Alan Curbishley's U-turn forced them to alter their plans.
He said: "Had the manager we offered the job to, and who shook on it, actually gone through with it we'd have been patted on the back."
Moxey also insists it is unfair to blame lack of spending power from Morgan for Wolves' decline this season. He added: "To point the finger at Steve and say he lacks ambition isn't correct. He put the money on the table and I hope nobody believes the final outcome this season is because we didn't spend enough."