Wolverhampton Wanderers have 'promised' incoming head coach Julen Lopetegui that he will have cash to spend when he looks to bolster the Molineux squad during the January transfer window, according to journalist Dean Jones.

Although the Midlands club parted with close to £120million ahead of the summer's September 1 deadline, further reinforcements could be drafted in at the turn of the year.

GiveMeSport Transfer Update With Dean Jones

What's the latest news involving Lopetegui?

Wolves announced the appointment of Lopetegui as the club's new head coach last weekend, with him due to officially take over on November 14.

It means that the Premier League side have eventually succeeded in luring the Spaniard, a Europa League winner, to Molineux at the third time of asking.

Wolves initially moved onto alternative options after Lopetegui turned down the chance to move into the hot seat, citing family reasons, last month.

The 56-year-old has also previously admitted that he was close to being appointed as the club's head coach in 2016, only for the Spain job to come his way.

Lopetegui had been out of work since being sacked by La Liga giants Sevilla in October, but he is now preparing to manage a Wolves side which currently finds itself in the Premier League's relegation zone.

Read more: January Transfer Window 2023: When Does It Begin, Rumours and Everything You Need To Know

What has Dean Jones said about Lopetegui?

Jones understands that Fosun International, who completed their takeover of Wolves more than six years ago, have made a pledge that Lopetegui will be backed in the January window.

The transfer insider is aware that the former Real Madrid chief will be given the opportunity to improve the squad he has inherited.

Jones told GIVEMESPORT: "They have to back him, but they will back him as he's told them that he needs signings.

"I'm told that they pretty much promised him that there will be money available."

Who is Lopetegui looking to sign for Wolves?

According to CaughtOffside, Lopetegui wants to lure Real Valladolid defender Javi Sanchez to the Premier League and the hierarchy are eager to honour the request.

The report suggests Wolves have registered their interest and the incoming boss knows the 25-year-old well, having worked together at Real Madrid.

Chairman Jeff Shi is reportedly willing to dip into his pockets but will be mindful of Financial Fair Play regulations, having been caught out once before.

It is thought that Lopetegui will have the final say on transfers even though technical director Scott Sellars has previously stated incomings are 'very much a team decision'.

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