Julen Lopetegui has admitted that he had an "agreement" to take over at Wolverhampton Wanderers before he decided to accept the Spain job.

The former Porto boss was appointed as the new head coach of the Spain national side on Thursday, hours before Wolves' takeover by Chinese conglomerate Fosun International was announced.

Speculation in recent weeks had suggested that following the takeover, Lopetegui would be installed at the Midlands side as a replacement for current manager Kenny Jackett.

Asked about the rumours at a press conference yesterday, Lopetegui explained: "I had an agreement with an English team [Wolves], but when Spain approached, there was nothing more for me."

The managerial situation at Wolves remains unclear, with Jackett and his squad due to return to the UK from a pre-season training camp in Ireland today ahead of a friendly at Port Vale on Saturday.