Wolves boss Nuno Espirito Santo will leave the club after the final game of the season on Sunday, the Premier League team announced on Friday.
Nuno led Wolves to promotion from the Championship and established them in the top-flight during his four seasons at Molineux.
“Wolves can confirm head coach Nuno Espirito Santo will leave the club, by mutual agreement, after Sunday’s match against Manchester United,” a club statement said.
With Tottenham still looking for a new manager after Jose Mourinho’s sacking in April, it has been reported that Nuno is among the contenders to take charge of the north London side.
Under Nuno’s management, Wolves secured consecutive seventh-placed finishes in the Premier League and reached the Europa League quarter-finals.
This season has proved more difficult and Wolves can do no better than a 12th-placed finish depending on Sunday’s result in his farewell match against United at Molineux.
There had been reports for several weeks that Wolves were considering parting ways with the 47-year-old, who only signed a new deal with the club 12 months ago.
Both Nuno and the club insisted the decision for the Portuguese coach to leave had been made by mutual consent.
“We achieved our goals, we did it with passion and we did it together. Firstly, I want to thank the supporters, who have all played such an important part in helping us reach new heights for Wolves, and the people of the city, who embraced us and made us feel at home,” Nuno said.
“I, of course, want to thank all of the staff at Wolves, for their support and total commitment, every single day.
“Most importantly, I want to thank each and every player that we’ve worked with since the day we started, for their loyalty, their dedication, hard work and talent. They are the ones who have made this amazing journey possible for us.
“Sunday will be a very emotional day, but I am so happy that the fans will be back in Molineux and we can share one last special moment together, as one pack.”