Wolves are back in talks with Julen Lopetegui about becoming their new manager after he turned them down last month.
The 56-year-old was the club’s first choice following the dismissal of Bruno Lage in October.
However, the former Spain boss opted to remain at home to be near his elderly father.
Steve Davis remains in caretaker charge at Molineux and Wolves have lost three of their past five games under him.
QPR manager Michael Beale rejected the job with the club also having spoken to former manager Nuno Espirito Santo and recently departed Lyon head coach Peter Bosz about the vacancy.
Wolves are second from bottom – two points off Southampton, who are just outside the relegation zone in 17th – and have been without a permanent manager since 2 October.
Former Barcelona goalkeeper Lopetegui impressed the Wolves hierarchy when they first spoke with him about becoming their manager in 2016.
On that occasion, after 10 days of negotiations, the Spanish Football Federation (RFEF) approached Lopetegui and he became Spain manager.