Paul Lambert has wished Wolverhampton Wanderers "the very best of luck for next season and beyond" after officially leaving the Championship club on Tuesday afternoon.

Lambert, 47, has departed Wolves following an end-of-season review, with the Scot becoming the third coach to be relieved of his duties since Chinese group Fosun purchased the club in the middle of 2016.

Lambert took charge of Wolves last November, and despite guiding the club to a 15th-place finish in the Championship, has departed Molineux following talks with the owners.

"I would like to say goodbye and thank you to the supporters of Wolverhampton Wanderers for their backing throughout last season. 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," read Lambert's statement, which was released through the LMA.

"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.

"It's a great club which is fortunate to have some incredibly dedicated staff throughout. I'd like to thank the Board and everyone at the club, from the Sir Jack Hayward Training Ground to Molineux Stadium, for their hard work and efforts in supporting the first team this year.

"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."

Lambert is believed to be in the running to become Hull City's new head coach.