His £20m offer was turned down flat, but he says remains "on the table".
He was sacked in February 2006 by chairman Freddy Shepherd, who initially brought him to the club when saying "the next Newcastle manager will be a Geordie". Souness was born in Edinburgh ... which says a lot about our dear chairman.
Wolves chief executive Jez Moxey insists the club have finished talking to Souness.
Moxey: "It is not true that we are in negotiations with Graeme Souness or anyone connected to him."
Souness: "I have offered to buy the Wolves for £20million.
"I don't know why Jez Moxey is saying these things. I have had several telephone conversations with Sir Jack Hayward and I have spoken as well with Jez Moxey.
"And last week I made an offer, subject to an examination of the club's books and accounts, of £20million which is the figure Sir Jack had publicly declared he was looking for."