Julen Lopetegui has left Wolves less than a year since he joined the Premier League side.
Lopetegui has been vocal in his frustrations with the club's lack of investment this summer amid financial fair play constraints and the ownership are concerned that his discontent could damage the morale of players, according to the Guardian.
The club have now confirmed that the Spaniard has left the club ahead of their opening match against Manchester United on Sunday.
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Moreover Wolves added that talks have been ongoing in recent weeks, "held with the utmost respect and cordiality", affording the club time to begin work on finding a successor.
A statement from the club sporting director Matt Hobbs said: “On behalf of everyone at the club I’d like to thank Julen and his staff for their dedication and hard work during their time at the football club. They were brought in with the primary aim of keeping the club in the Premier League last season, an objective which they achieved with games to spare.
“While our ambition had been to move into the new season together, it is public knowledge that there were differences of opinion on some key topics, and it was agreed by all parties that it would be best to part ways ahead of the new campaign.
“After a successful pre-season, full of hard work and good performances, Julen and his staff leave the squad in great shape ahead of the season opener next week, which will give his successor the best possible platform for success.
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“We wish Julen and his team the very best of luck for the future, and they will always be welcome at Wolves.”
Moroever, on the amicable departure Lopetegui said: “I wish Wolves and everybody at the club the very best of luck for the future, and thank them for the opportunity granted at the time to take charge of this wonderful club.
“It has been an honour to enjoy this adventure in the day-to-day company of Matt Hobbs, Matt Wild, head of player care Lisa Hollis and every single employee of the club; whom I wish to thank for their support and help at every moment.
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“Also, of course, I want to thank the players, who have always given the maximum to achieve our objectives, and especially the fans that made me feel like one of them from the very first moment and have always been amazing to me, my staff and my family.”
Meanwhile, Wolves have allegedly earmarked Gary O'Neil after he was sacked by Bournemouth this summer, despite guiding the Cherries to Premier League safety.
The Molineux outfit have reportedly held talks with the former West Ham midfielder and is number one target to replace Lopetegui.
Topics: Wolverhampton Wanderers, Premier League, Football, Julen Lopetegui
Joe Adams