Wolves intend to go Portuguese again to replace departing manager Nuno.
The club announced on Friday that Nuno would leave after Sunday's home game against Manchester United, with his departure described as 'mutual consent' by the club, even though Nuno signed a new deal less than a year ago with a significant increase on his initial £3million annual salary.
Lage, 45, left Benfica last summer and is thought to have turned down a number of opportunities since.
Pereira, meanwhile, is an experienced coach who as well as Porto has managed Olympiakos, Fenerbahce and Shanghai SIPG. Another on the Wolves radar is believed to be Rui Faria, best known as Jose Mourinho's long-time assistant, says the Daily Mail. Faria worked with Mourinho at Manchester United and Chelsea.
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