Wolves and Paul Lambert part company after seven months
Wolves head coach Paul Lambert has left the club after just seven months in charge.
Lambert leaves after the club after leading them to a 15th-placed finish with Nuno Espirito Santo, who recently left his role at Porto, reportedly lined up to take over.
The 47-year-old will be the third head coach relieved of his duties by owners Fosun since they bought the club last July.
Lambert had only joined in November but was unhappy at Wolves' stance on new signings with super agent Jorge Mendes, a close associate of owners Fosun, having a large say in deals.
Despite that, Lambert leaves Molineux with happy memories and now turns his attention to his next job.
"I thoroughly enjoyed my time as head coach of the club and I wish everyone at Wolves the very best of luck next season and beyond," he said in a statement released via the League Managers Association.
"We have had some great moments to look back on, especially the performances in the FA Cup against Liverpool and Stoke, and I'm confident that this current group of lads can push on next season to compete with the best in the league.
"Although it is disappointing to be leaving after only a short period of time, I hope to enjoy a short break with my family this summer before preparing myself for my next challenge in football."
Espirito Santo is in line to replace him after leaving Porto earlier this month halfway through a two-year deal.
The Portuguese giants finished second in the Primeira Liga, six points behind Benfica, and finished trophy-less for a fourth consecutive season.
Espirito Santo was also in charge of Valencia between 2014 and 2015 and guided them to fourth in La Liga in his only full season in charge.
He will join after Lambert became the third head coach to leave, following Kenny Jackett and Walter Zenga, since owners Fosun bought the club last July.
First-team coaches Stuart Taylor and Rob Edwards, and head of sport science Tony Daley, have also left.
In an official statement the club said: "Wolves and Paul Lambert have agreed to part company following a football review which took place at the end of the season.
"The club would like to place on record its thanks to Paul for his dedication and professionalism during his time at the club, which included some memorable victories, and wish him all the best in his future career.
"In addition, first team coaches Stuart Taylor and Rob Edwards, and Head of Sport Science Tony Daley, will also be leaving Wolves with immediate effect.
"As part of the coaching restructure, the club are currently in discussions with Pat Mountain regarding the possibility of him taking up a role within the Academy."
They added: "A further announcement on a new Head Coach and backroom team will be made in due course."
Information from the Press Association was used in this report.
Follow @ESPNFC on Twitter to keep up with the latest football updates.