Nuno Espirito Santo's shock departure from Wolves was driven with the club's long-term future in mind.
The manager will leave at the end of the season and, while the decision was ultimately by mutual consent, the PA news agency understands owners Fosun instigated the move.
While Nuno's exit was – and will be – amicable, Fosun had been considering a change in regards to the club's wider progress, with the owners wanting to make a proactive and decisive choice.
Talks took place this week and a decision was made to announce the news today as Nuno wanted to tell his squad.
One more game. Let's make it special. — Wolves (@Wolves) May 21, 2021
Wolves are unlikely to rush into an appointment given they end their Premier League season against Manchester United on Sunday and it could be up to three weeks before they have a replacement.
The club announced Nuno would leave at the end of the campaign on Friday, ending a four-year spell in charge at Molineux.
He only signed a three-year contract extension in September, with the news of his impending exit coming as a surprise.
Nuno was been aware it had been coming this week and, despite a disappointing season, the decision was not based on results this term.
💬 "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."#ThankYouNuno pic.twitter.com/YYUbZtYsnC — Wolves (@Wolves) May 21, 2021
Nuno guided Wolves back to the Premier League in 2018 when they won the Sky Bet Championship and then secured back-to-back seventh-place finishes in the top flight.
Wolves also reached the Europa League quarter-finals last season but can only finish as high as 12th this year.
The news came shortly after Nuno had conducted his media duties to preview the United clash.
"Our ambition was to make a positive change and push this football club forward, and I am proud to say that we did that every single day. We achieved our goals, we did it with passion and we did it together," Nuno said in a statement.
"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."
This season Nuno has been hampered by Jonny and Raul Jimenez suffering serious injuries after Diogo Jota and Matt Doherty were sold last summer.
"Nuno has brought us some incredibly special moments at Wolves that will never be forgotten, but every chapter comes to an end," executive chairman Jeff Shi said.
"His loyalty and dedication over the last four years has been immeasurable and we cannot thank him enough for the progress he has made for Wolves.
"Sunday was already going to be a very special day, welcoming our supporters back for the first time in more than a year; but it will also now be a fitting goodbye for someone who will forever remain an important part of Wolves history."
