Wolves are expected to confirm the appointment of Vitor Pereira as their new head coach later today.
He will succeed Portuguese Gary O'Neill, who was sacked following Saturday's defeat at home to Ipswich which left Wolves second from bottom in the Premier League after winning just two games this season.
Wolves and his current youth club are said to have agreed a compensation package that will see the 56-year-old take charge of Molineux ahead of Sunday's trip to rivals Leicester City.
We parted ways with coach Gary O'Neill and his backroom staff.
We thank them for all their effort and hard work over the past 16 months.
🗞️⤵️
– Wolves (@wolves) December 15, 2024
Pereira enjoyed a globe-trotting period in management, spending spells in his home country as well as Saudi Arabia, Greece, Turkey, Germany, China and Brazil.
The highlight of his coaching career was his two-year spell as Porto coach, leading them to two consecutive Portuguese Premier League titles.
He also won league titles with Olympiacos and Shanghai SIPG.
However, Pereira will have a difficult task trying to keep Wolves out of danger.
The club may also have to do without star player Matheus Cunha for a period of time after the Football Association accused him of misconduct this morning.
The Brazilian striker, Wolves' top scorer with eight goals in the Premier League this season, was involved in a post-match brawl against Ipswich, where he argued with a member of the opposition's security staff.
