Wolves part company with Julen Lopetegui with former Bournemouth boss favourite to step in

Wolves have parted company with head coach Julen Lopetegui.

It comes after the Spaniard held crunch talks with the Molineux outfit just days before their Premier League opener against Manchester United on Monday.

Lopetegui is said to have headed into conversations with the club’s hierarchy on Tuesday morning following rumours of his ongoing dissatisfaction over their transfer activity this summer.

The former Spain and Real Madrid boss, 56, took over in November with Wolves bottom of the table. He guided them to safety with a 13th-placed finish.

Wolves have sold a number of first-team players including Ruben Neves, Conor Coady, Nathan Collins and Raul Jimenez this summer and have only brought in two on free transfers – Matt Doherty and Tom King.

Lopetegui revealed his frustration at Wolves’ situation last month, telling Guillem Balague’s Pure Football podcast: ‘It was bad news for me. I tried in the summer. This was plan A. We went to a plan B, trying to think about cost-effective players, but it’s true at the moment, we can’t develop this plan, too.

‘We lost a lot of players and we think the club want to sell more players. In this situation, we need players to balance the squad and be competitive in the Premier League.

‘I know the sporting director, Matt Hobbs and the recruitment – all this team – have worked very hard to have a plan A and plan B, but unfortunately we can’t develop this plan.’

Wolves chairman Jeff Shi published an open letter on the club website over the weekend, detailing their battle to comply with the Premier League’s rules on profitability and sustainability.

Former Bournemouth boss Gary O’Neil is the early favourite to take the reins, with Wolves reported to have held talks with the 40-year-old following his own shock exit from the Vitality Stadium at the end of last season.