Former Middlesbrough head coach Aitor Karanka has emerged as a managerial target for Wolverhampton Wanderers, according to reports.

Current boss Paul Lambert, who led Wolves to a 15th-place finish in the Championship, is rumoured to be on the verge of quitting the club in a row over transfer policy.

A recent report claimed that Wolves owners Fosun International are planning to hand over responsibility for this summer's transfer activity to 'super agent' Jorge Mendes, who advised the firm in their purchase of the club last summer.

According to the Express & Star, Karanka - himself a client of Mendes - is rumoured to have been lined up to take over the Wolves hotseat once Lambert is either given his marching orders by the board or decides to resign.

Spaniard Karanka won promotion with Boro in 2015-16 but was sacked in March with the now-relegated team in the Premier League's bottom three.