Marcelino is currently in his second stint with the Yellow Submarine, with his current reign commencing in November soon after his departure from Marseille.
With Villarreal down in ninth position in the La Liga standings, the 58-year-old cannot claim to have enjoyed an overly-productive opening run in the dugout.
Nevertheless, with just six defeats coming from 25 games in all competitions, there is every expectation that Marcelino will remain at the helm for 2024-25.
The current focus is on trying to close down the eight-point gap to seventh place, yet Marcelino and club officials will naturally be weighing up their plans for the next transfer window.
Villarreal keen to extend Guedes stay?
According to Relevo, Marcelino has signalled his intent to retain the services of Guedes on a full-time basis.
On the back of suffering injury issues on loan at Benfica, Guedes was allowed to switch to Villarreal in the hope of regaining some form.
Since January, the Portugal international has made six starts and six substitute outings in all competitions, chipping in with two goals and three assists.
While the current plan is for Guedes to return to Molineux, Wolves would jump at the chance to cash in on the 27-year-old for the right price.
Marcelino is said to be of the opinion that he believes Guedes can produce greater numbers for Villarreal on the back of a pre-season, and hopes that the clubs can reach a compromise over a fee.
One notable stumbling block is Guedes still having three years left on his contract at Wolves, with it being noted that he would need to reduce his wage demands to move to Estadio de la Ceramica.
What about fellow Wolves loanee Yerson Mosquera?
Of the pair, Yerson Mosquera's stint with Villarreal has been the more productive, with the defender making eight starts and three substitute outings in all competitions.
Villarreal have only lost two of the games - against Marseille and Atletico Madrid respectively - in which the Colombia international has featured.
Mosquera has already revealed he is keen to remain at Villarreal in the long term, but Wolves are yet to make a decision over his future.
Theoretically, the 22-year-old could be viewed as an ideal newcomer to Gary O'Neil's squad having shown his capabilities at right-back as well as centre-back.