WOLVES will splash the cash and take up their option to sign Helder Costa on a permanent deal to avoid him being snatched by a Premier League club.

The 23-year-old winger has been in fine form for the Championship side since joining on loan from Benfica, convincing Molineux officials to fork out around £13million to secure his services.

4 Wolves will splash the cash and take up their option to sign Helder Costa on a permanent deal Credit: Reuters

Top-flight outfits Southampton, Hull City, Sunderland and Crystal Palace were all monitoring the Portuguese star’s situation at the Championship side.

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The Under-23 international’s transfer is expected to be announced within the next 24 hours after Wolves decided to act fast in order to fend off their rivals.

Costa, who is represented by super agent Jorge Mendes, has been the bright spark for Paul Lambert’s men this campaign and has notched seven goals and recorded five assists in the second-tier.

Lambert’s men are currently 18th in the Championship are 14 points outside of the play-off spots.

Despite sealing his signing, they may still struggle to keep the livewire at the end of the season unless they can launch a late promotion charge.

The interest in the Costa is unlikely to go away, especially if he continues his goalscoring form, and they may find themselves fending off offers in the summer.

4 Helder Costa will cost the Championship side around £13m with the move expected to be announced within 24 hours Credit: Reuters

4 Super agent Jorge Mendes is Helder Costa's representative and has negotiated the deal

4 Fans of Wolves will be doing cartwheels that their star man has been secured permanently Credit: Reuters

Although the move to bring him in now will at least enable them to start a bidding auction for the ace.

Middlesbrough and West Ham are also keeping tabs on the former Monaco and Deportivo La Coruna attacker.