Wolves are in advanced talks with Olympiakos over a £21 million deal for highly-rated winger Daniel Podence.

Nuno Espirito Santo is close to making a major transfer breakthrough with the capture of the former Portugal under-21 international as Wolves prepare for a late flurry of January signings.

Podence has been one of Wolves's top targets this month and negotiations are now in the final stages with the 24 year old expected to complete his move before the deadline on January 31.

Olympiakos, the Greek Superleague leaders, value Podence at around €25 million and Wolves are currently short of agreeing a fee but there is an expectation that a deal can be done.

It is understood that Podence's agent is Jorge Mendes, who has played a huge role in recruitment at the west Midlands club over the last three years.

Podence is a former team-mate of Wolves goalkeeper Rui Patricio at Portuguese club Sporting and could become the first major January signing for the Midlanders.

Tottenham fans will be aware of Podence after he scored and produced an excellent performance in the 2-2 draw in the Champions League last September.

Wolves have also been keen on Red Bull Salzburg's Hwang Hee-chan, as first revealed by Telegraph Sport, but that deal is now on the back-burner after the Austrian club lost both Erling Braut Haaland and Takumi Minamino earlier this month.