Wolverhampton Wanderers head coach Paul Lambert reportedly held "crunch talks" with the club's hierarchy this afternoon in a bid to resolve the dispute over transfer policy.

Earlier today it emerged that Lambert was considering his Molineux future after being told that 'super agent' Jorge Mendes - advisor to Wolves' Chinese owners Fosun - would be assuming the club's transfer dealings this summer.

The Scot, who took over the Midlands side in November after Walter Zenga's ill-fated spell, had been planning to conduct a major overhaul of the squad ahead of next season with a focus on bringing in experienced British players in a bid to challenge for promotion.

According to the Express & Star, Lambert held talks with Fosun this afternoon and made it clear that he is "keen to come to an agreement" and that quitting "is a last resort".

Lambert is said to be prepared to work "in conjunction" with Mendes, who represents the likes of Cristiano Ronaldo and Jose Mourinho, but will "not be dictated to" and wants to bring in his "own pinpointed signings".

Portuguese manager Jose Couceiro has already been touted as a potential replacement for Lambert should he depart Molineux.