The 29-year-old star striker, according to reports in Italy, is of interest to Serie A giants Juventus, with some outlets even claiming their sporting director Fabio Paratici has flown to London to meet Jimenez’s agent.
But Richards, who scored 194 goals in 485 games and won the League Cup twice during his time in gold and black, believes Wolves are operating from a position of strength when it comes to the Mexican.
“Wolves are in a good position. They don’t have to sell,” said Richards.
“They’re in a strong position financially and there is no pressure on them to sell.
“First of all, it’s whether anyone is prepared to spend what would have to be silly money to get him. That’s the only thing that would tempt Wolves to do it.
“I just feel Wolves have got the upper hand at the moment in all the negotiations. They’re an ambitious club.
“There are not many strikers of that sort of standard around, so why would you let one go? He’s got another three years left on his contract, so there is no pressure whatsoever from a club point of view.
“The only way I can see him going is if Jimenez says himself that he doesn’t want to play for Wolves anymore. And I haven’t seen anything to say that’s the way he’s thinking.”
In terms of incomings, another striker, Braga’s Paulinho, has been heavily linked with a move to Wolves.
Richards, who ended his career in Portugal with Maritimo, added: “That would fit the brief, someone to work alongside Jimenez and beef up the attack.
"Someone on his way up to work alongside him, allowing Jimenez to rest up when needed.”