Wolves sacked Bruno Lage at the start of the month following a poor start to the season but are still scrambling around to find a new manager.
They were dealt a blow when their top target Julen Lopetegui rejected their offer and they are now looking at other options.
They have held talks with their former manager Nuno, who is now managing Al Ittihad in Saudi Arabia and he is keen to take up the offer of returning to Wolves.
Jorge Mendes is in Saudi Arabia to find a way to get him out of his current contract but it has been claimed that his return to Wolves is still far from certain.
Complications over his contract at Al Ittihad are yet to be sorted out and it has been suggested Wolves have other preferred targets.
They have held talks with Nuno over a return but for the moment it does not seem that he is the top option for the club.
The Portuguese remains well respected at Wolves for the way he got them back into the top flight and made the club a staple diet in the Premier League.
But Wolves are also keen to try something new and for the moment, Nuno is not their top target.