Atletico Madrid have reportedly identified Wolverhampton Wanderers manager Nuno Espirito Santo as their number one choice to replace Diego Simeone should the Argentine leave the club.
Simeone has been in charge at Atletico since 2011, but French champions Paris Saint-Germain are thought to want to prise him away from the Wanda Metropolitano.
PSG are considering replacements for current boss Thomas Tuchel, whose job is expected to come under severe threat unless they can recover from a 2-1 first-leg defeat to Borussia Dortmund in the last 16 of the Champions League.
Simeone is understood to be top of their wish list should that happen, and the Daily Mail claims that that could have a knock-on effect on Wolves.
Nuno has steered the Midlands outfit up from the Championship to the Premier League, finishing seventh in his first top-flight campaign to earn a place in this season's Europa League.
Wolves could fare even better this season, with Champions League qualification still a possibility via either the Premier League or the Europa League.
Nuno's current contract expires at the end of next season.
