Julen Lopetegui has been sacked by Sevilla immediately following their defeat by Dortmund - paving the way for him to take the vacant manager's job at Wolves.
Bundesliga giants Dortmund made light work of Sevilla in the Champions League on Wednesday, with Jude Bellingham getting on the scoring in a 4-1 route.
The result followed a 2-0 La Liga defeat by Atletico Madrid, which saw Sevilla fall to 17th in the table - just one point above the drop zone.
Lopetegui confirmed in his post-match interview on Wednesday that he was leaving Sevilla, with a statement then appearing on the club's official website.
It read: "Sevilla FC have dismissed Julen Lopetegui as coach of the first team after the clash between the Nervion team and Borussia Dortmund on Wednesday.
"Lopetegui closes a successful stage with three magnificent campaigns in which the objectives were more than achieved and a fourth season in which, however, the results have not been on track, with Sevilla FC adding five points out of a possible 21 in La Liga.
"In total, Asteasu's man has managed Sevilla FC on 170 occasions: 121 games in LaLiga, 15 in the Copa del Rey, 16 in the Europa League, 17 in the Champions League and one in the European Super Cup.
"This makes him the fifth coach with the most official matches in Sevilla history after Joaquín Caparrós, Unai Emery, Manolo Cardo and Ramón Encinas. The balance is 89 wins, 45 draws and 36 losses, which also leads him to third place in official victories, only behind Caparrós and Emery.
"Lopetegui will forever be among the highlights of Sevilla FC's history for his brilliant achievement of the sixth UEFA Europa League in the 2019/20 season, his first in charge, which gave him entry to the select club of seven coaches who have raised a national or international degree in Nervión.
Image:Wolverhampton Wanderers FC via G)
"Likewise, he has achieved the historic milestone of achieving three consecutive qualifications for the Champions League via LaLiga, with a total of 222 points in 121 games.
"With him, in addition, Sevilla FC achieved the scoring record to date in the First Division with 77 points in 2020/21, as well as the first Zamora Trophy in its history, that of Yassine Bono last season.
"Sevilla FC has offered Julen Lopetegui the option of being able to say goodbye publicly at the Ramón Sánchez-Pizjuán facilities.
"The Nervión entity wants to underline and thank the professionalism and good work of the Basque coach in the more than three years he has been in the house, as well as wish him the best of luck and the greatest success in his new professional projects."
Portuguese manager Lage was recently sacked by Wolves and Lopetegui has been linked with the now vacant position over the past week.
His sacking has now paved the way for him to take the reins at the Molineux.