Julen Lopetegui has been sacked by Sevilla following Wednesday’s Champions League defeat by Borussia Dortmund.
Lopetegui was appointed Sevilla boss in June 2019 and led the club to the Europa League title in 2020.
But the Spanish side have won just once this season and defeat to Dortmund was their sixth loss in 10 matches in all competitions.
The former Spain and Real Madid boss is one of the potential candidates to replace Bruno Lage at Wolves.
The 56-year-old spoke to the Premier League before taking the Spain job in the summer of 2016 and owners Fosun remain impressed by him.
Wolves sacked Lage last weekend after a 2-0 defeat at West Ham left the club in the Premier League relegation zone.