Wolverhampton Wanderers have reportedly decided to delay announcing the exit of Paul Lambert until they have agreed a deal with a replacement.

It has been widely reported that Lambert will leave Molineux after a disagreement over the club's transfer plans, with agent Jorge Mendes said to be overseeing the Championship outfit's business during the summer window.

Almost a week has passed since rumours began to emerge over Lambert's future but according to the Express & Star, it could be days before an official announcement is made over Wolves' managerial position.

While former Middlesbrough boss Aitor Karanka has been linked with the role, it has been claimed that owners Fosun International are currently sounding out targets both in England and abroad.

Vitoria de Setubal coach Jose Couceiro is another name to be associated with the position which has been occupied by three incumbents - Kenny Jackett, Walter Zenga and Lambert - since Fosun purchased the club in July.

Lambert won 14 of his 33 matches in charge of the West Midlands outfit after replacing Zenga in November.