Julen Lopetegui has left his job as Wolves coach just days before the start of the Premier League season after reportedly being unhappy over the club's recruitment policy.
"Wolves and Julen Lopetegui have reached an agreement to part ways, ending the Spaniard's nine-month reign as head coach at the club," Wolves said in a statement on Tuesday.
"The head coach and club acknowledged and accepted their differences of opinion on certain issues and agreed that an amicable end to his contract was the best solution for all parties."
Former Spain and Real Madrid boss Lopetegui joined Wolves in November with the club bottom of the Premier League and helped them stay in the top flight.
But he was said to be frustrated by their approach in the transfer market, with a number of first-team players departing this summer and few replacements found.
Wolves have sold the likes of Ruben Neves, Conor Coady, Nathan Collins and Raul Jimenez and have only brought in two players on free transfers - Matt Doherty and Tom King.
In his own statement 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. 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."
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