Glenn Hoddle is waiting to see if Wolverhampton Wanderers match his level of ambition before deciding whether to commit his long-term future to the club.

The Wolves boss, whose surprisingly short six-month contract runs out at the end of the season, has already had initial talks this week with the Molineux board.

But, despite some tub-thumping hints from former chairman Sir Jack Hayward this week at his "retirement" dinner that he still has lofty ambitions, Hoddle is not the only one keen to see that sort of talk backed by finances.

"Whether I'm the manager or not," said Hoddle, "this is a really crucial time for the club, with the last of the Premiership parachute payments to come next season. And I need to know that things are going to be right for the club. I need some clarity of where the club are going to go.

"Nobody can question this club's ambition with the money that's been put in over the years but I want to know what the attitude is, the strategy towards getting up and what happens if that does not happen in 12 months.

"First and foremost is the business of getting up. The second phase is something we've also talked about. How to stay there. They're the things we're trying to work out.

"The board have been very honest and open. I'm getting a clearer picture and hope we can take it to the next step."

Hoddle has even emphasised the importance of knowing how much money he might have to spend by putting the not inconsiderable matter of his own terms on the back burner.

"We've not even spoken about my deal," said Hoddle. "That will happen next week.

"The main thing for me is to look at the ambition of the club. We are looking at where things might have to change were I stay and some internal changes too.

"I've had a good feel from my six months, with lots of positives, but it would be foolish just to say I'm staying because I'm enjoying it.

"You have to weigh where the aims are."

Apart from the financial aspect, in the wake of the way things went sour for him at Tottenham Hotspur in his previous managerial role two seasons ago, Hoddle is also keen to ensure that his so far encouraging rapport with Wolves chief executive Jez Moxey and the board will continue.

"We've come a long way forward," he said. "And we're been very close to being where we want to be.

"The foundations have been put in if I do stay, but a manager and a club need to be able to work together. And if that doesn't happen, you've got problems.

"There was too much politics at the last club I was at.

"The simplest way is to have a working chairman and a chief executive singing off the same song sheet as a manager.

"You all have to be in harmony. If you're not, you're fighting an uphill battle."

In that respect, he can feel reassured by the words of Sir Jack at his tribute dinner on Tuesday night.

He might officially have retired 17 months ago and handed the reins to his eldest son Rick. But he is clearly still the main player at Molineux.

Without Sir Jack's approval, funds will remain as comparatively tight as they have been over the past two years, during which time Wolves' expenditure has not come near to matching that mad first 12 months under Dave Jones. But the encouraging news for Wolves fans appears to be that, under Hoddle, Sir Jack has got his hunger back

"This is not a retirement party," he said. "I'm still madly in love with Wolves.

"It is completely mad that I am being thanked and honoured for doing something that every Wolves fan in the world would have done if they'd had my good fortune and luck.

"I think my son wants complete control but I won't let that happen.

"I'm still here and giving my full support to Glenn Hoddle.

"We haven't achieved anything yet.

"We got into the Premier League but we didn't stay there.

"We've got to get there again with Glenn, and this time stay there and consolidate, so that we can be up there with the likes of Manchester United, Arsenal, Chelsea and Liverpool."