Wolverhampton Wanderers are on the brink of signing loan star Raúl Jiménez in a club record £25m deal, in a huge boost for the FA Cup semi-finalists.

Nuno Espirito Santo is close to officially completing the signing of the Mexican international on a long-term deal, with negotiations now at an advanced stage with Raúl's club Benfica.

Telegraph Sport understands a fee has been agreed with the Portuguese club for Raúl, who has scored 15 goals for Wolves this season, and confirmation of the deal is expected before the end of the season.

It is believed the initial fee will be around £25m, eclipsing the previous transfer record of £18m for Middlesbrough winger Adama Traore, and added instalments could take the overall fee closer to £30m.

Wolves’ ambitious owners, Fosun, have made signing the 27-year-old a priority and talks have progressed rapidly over the last few weeks.

Raúl has proved a revelation at Molineux since signing on loan in June, leading the line for Nuno in an attacking three and playing a crucial role in taking Wolves to Wembley.

A former Atletico Madrid forward, Raúl was the man of the match in Wolves’s victory over Manchester United in this month’s FA Cup quarter-final.