The Spaniard added he had only recently been made aware of the club's Financial Fair Play (FFP) "problems".

"Talks this week between the club and Lopetegui will give us a clearer picture," Balague said.

"With the club unable to get the signings or investment they promised him and instead having to sell to keep up with FFP, his future is in doubt even though he is under contract."

Former Spain and Real Madrid boss Lopetegui led Wolves comfortably clear of the Premier League's relegation places following his appointment in November, when the club was bottom of the league.

They are only the fourth side in the Premier League era to stay up after being bottom on Christmas Day and secured their top-flights status with three games remaining.

He has won nine of his 22 league games in charge and the club are 13th before the final match of the season.

However, Lopetegui said he had been made aware of issues he "didn't know before" in a meeting with chairman Jeff Shi.

Premier League rules mean clubs can only accumulate losses of £105m over a three-year period.

In their last financial results Wolves posted a £46.1m loss, before adding 10 senior players this season - plus two more on loan - suggesting further losses on their next accounts.