Incoming Blues boss Mick McCarthy is understood to be set to earn ÂŁ1 million-a-year at Town, plus another ÂŁ1 million bonus if he keeps the Blues in the Championship this season. The Blues currently sit bottom of the division, five points from safety having failed to win in their last 12 matches.
As reported yesterday, McCarthy, his Wolves assistant Terry Connor and ex-Blues skipper Matt Holland are set to be confirmed as the new Town managerial team before the weekend.
A press conference to unveil the new team appears likely to take place on Thursday, although nothing has yet been officially announced.