Dean Saunders tonight left Doncaster to take the vacant managerial position at Wolves, according to the npower League One club.
The former Wales striker this morning emerged as the preferred candidate of Wanderers, who have moved quickly to replace Stale Solbakken who was sacked last night after a poor run of form.
In a statement tonight, Doncaster's chief executive Gavin Baldwin confirmed the move.
"I have just come off the phone with Wolverhampton Wanderers' chief executive Jez Moxey, at 8.50pm Sunday evening, and can confirm that Dean Saunders has agreed to take over as manager at Molineux," he said on the club's official website.
Wolves later released a statement, which said Saunders was set to take the job on the proviso that terms could be agreed.
"Wolves can tonight confirm that terms have been agreed with both Dean Saunders and Doncaster Rovers for Saunders to become the club's new manager," read the statement.
"The formalities of the move are yet to be completed and a fuller statement will be issued once they are finalised."