The former Middlesbrough is said to have held talks about replacing Paul Lambert at Wolverhampton Wanderers.
Middlesbrough completed the signing of Espinosa on a free transfer on Wednesday.
Bernardo Espinosa agreed a move to Middlesbrough on Wednesday.
Middlesbrough have an advantage of Everton and Watford in the race for a Spanish defender, according to reports.
The Sporting Gijon defender is currently out with a serious knee injury.
Everton and Watford are hoping to sign Bernardo Espinosa.