Wolverhampton Wanderers are being sold to Fosun International, a Chinese conglomerate with ties to agent Jorge Mendes, in a £45million deal.

Mendes, whose clients include Cristiano Ronaldo, Jose Mourinho and David De Gea, and Fosun are close to completing a buy-out of the Championship club within the next fortnight, with sources claiming it could even be sooner.

It was initially thought, via reports from Spain, that Chinese billionaire Robin Li was fronting the takeover bid but the Telegraph understands Fosun is behind the deal.