Wolves are closing in on a deal to sign Leicester transfer target Shoya Nakajima next month.
According to A Bola, Wolves are set to agree a €20m deal with Portimonense for the attacking midfielder, who has been in great goalscoring form this year.
Southampton and Leicester have both been touted with interest in Nakajima, with Wolves now on the verge of beating them to the Japan international.
Nakajima only joined Portimonense in the summer, after a loan spell with the club, but could already be on his way to the Premier League six months later.
The 24-year-old has scored five goals in ten league appearances this season, after scoring 10 in 29 last campaign.
Portimonense ply their trade in the top-flight of Portugal, where Nakajima is quickly building a fierce reputation.
Southampton may have backed out of the race after they sacked their manager Mark Hughes earlier this week.
They have already replaced him with Austrian Ralph Hasenhuttl, who last managed German side RB Leipzig in the Bundesliga.