Fonte terminated his contract by mutual consent just six months after his £5 million move from West Ham.
However, a half-decent showing for Portugal at the 2018 World Cup suggests the 34-year-old still has something left to give to the European game.
And with Jorge Mendes as his agent, a move to Wolves would come as little surprise - not least to the following Twitter users...
Fonte has Jorge Mendes as his agent... bet he joins Wolves.— Jay (@Vxstergaard) 15 July 2018
Jose Fonte has terminated his contract with Dalian Yifang. Had a very good World Cup, was probably better than Pepe overall. Could he be on his way to Wolves? It wouldn't shock me. Still plenty good enough for the Premier League. Braga seems a good fit for him too.— Alex Goncalves (@Aljeeves10) 15 July 2018
Should go to Wolves. He know we won't get a call up for Portugal unless he play for top club in europe— Ahmed Malik ❤️ (@Ahmedsays_) 15 July 2018
Incoming at Wolves ?— Saintjeff (@saintjeff52) 16 July 2018
Open a market on Jose Fonte and put wolves on there plz @RequestABet— James Stableford (@WafcJames98) 15 July 2018
Jose Fonte to Wolves, would be a decent signing— (@KingTiago_) 15 July 2018
And the thought has also crossed the minds of some Wolves supporters...
Jose Fonte has left his club by mutual consent. We were interested last season........................— ITS not COMING HOME yet (@nxxhrxf) 15 July 2018
Jose Fonte could partner Danny Batth at a premier league football club pic.twitter.com/sS6X2pGLNW— ben (@iambenjemin) 15 July 2018
José Fonte on a free transfer? Plenty experience for sure! #wwfc— Jordan⚽️ (@WolvesJordan) 15 July 2018
Wolves added Fonte's national team colleague Rui Patricio to their ever-growing Portuguese contingent earlier in the transfer window, while Nuno Espirito Santo's side have been tipped to strengthen in the former West Ham player's position.
Fulham could be another logical destination for Fonte, whose younger brother Rui is employed by the Cottagers.
Could Fonte return to the Premier League with Wolves so soon after leaving West Ham?