Former Rangers and Everton boss Walter Smith has emerged as the new favourite to take charge of Wolves as Mick McCarthy's successor.
Smith is understood to have discussed the possibility of taking the post until the end of the season during talks with Wolves owner Steve Morgan and chief executive Jez Moxey.
The 63-year-old is reported to have turned down the job on a full-time basis but is willing to take on a 13-game fire-fighting role to keep Wolves in the Premier League.
The veteran manager enjoyed considerable success in winning seven consecutive Scottish titles with Rangers in the 1990s, before moving to Everton for a four-year spell in the Premier League.
After going on to manage Scotland for two years, Smith returned to Ibrox in 2007 and promptly led the Glasgow club to three successive titles and the 2008 UEFA Cup final.
Smith is now installed as the clear favourite after a fraught interviewing process for the Molineux club since McCarthy's sacking on 13th February.
Wolves have endured a fruitless search in recent days with the likes of Alan Curbishley, Reading manager Brian McDermott and Brighton boss Gus Poyet all distancing themselves from the post.
But Smith appears set to finally fill the role and Wolves are hopeful he could even be in place for Saturday's clash at Newcastle.