Wolves are in advanced talks with Al-Shabab manager Vitor Pereira to take over as head coach following the sacking of Gary O’Neil last week.
The club is eager to make a swift appointment, with the compensation fee of around £800,000 for the former Porto and Olympiakos boss not seen as an obstacle.
While Pereira is the leading candidate, Wolves have also considered other potential replacements, including former West Ham and Manchester United manager David Moyes. However, sources close to the club suggest that Pereira is the frontrunner.
The 56-year-old Portuguese coach has been with Al Shabab since February, guiding them to an eighth-place finish in the Saudi Pro League last season. Currently, they sit sixth in the table, with seven wins from 13 matches.
Pereira has an impressive resume, having won two Primeira Liga titles with Porto and the Greek Super League with Olympiakos. Wolves could appoint him by Tuesday, with his first game potentially set for Sunday’s trip to Leicester.
O’Neil was dismissed after Saturday’s 2-1 defeat to Ipswich, leaving Wolves second from bottom in the Premier League, four points adrift of safety. His backroom staff has also departed.
Wolves chairman Jeff Shi expressed gratitude for O’Neil’s efforts, stating, “We’re very grateful to Gary for all of his effort, dedication, and hard work during his time at the club, and we wish him and his team the best of luck for the future.”
O’Neil’s sacking came just days after Shi publicly voiced support for him following a loss to West Ham. Under O’Neil, Wolves won only twice in 16 league games this season, leaving them in a precarious position.