The Scot did his coaching badges with the newly-appointed Rangers boss and is tipping him to bring success back to Ibrox.
HITC Sport selects the La Liga player your club should sign: Sheffield Wednesday's is Daniel Carrico.
Sheffield Wednesday are set to take on Barnsley in their next match on Saturday.
Carvalhal is under pressure from some Sheffield Wednesday supporters.
The Owls are currently sixth in the Championship, though for how much longer remains to be seen.
Sheffield Wednesday have suffered a defensive crisis ahead of Friday's visit of Reading.
Sheffield Wednesday can climb to fifth in the Championship with a win against the Royals.
The Portuguese has done an excellent job at Sheffield Wednesday - and will Wolves' owners see him as the man to take their project to the next level?
The Owls face Reading in a promotion chasing thriller on Friday night.
Following injuries and suspensions, the Owls are having to deal with a makeshift defence at a crucial period of their season.