Wolves have agreed a loan deal for Atletico Madrid and Brazil striker Matheus Cunha, with an obligation to buy for around £34m.
Personal terms have been agreed with Cunha, who could be involved as soon as January 4 when Wolves travel to Aston Villa.
The 23-year-old will be new Wolves head coach Julen Lopetegui’s first signing since taking over.
Wolves are the lowest scorers in the Premier League with eight goals.