Wolverhampton Wanderers have reached an agreement with Atletico Madrid for the signing of Matheus Cunha, according to Fabrizio Romano.
The Molineux outfit were in intense talks with the Brazilian striker, who Julen Lopetegui identified as a top target to reinforce his attack.
However, Wolves have fended them off to strike a deal with Cunha. Paperwork is set to be completed in the coming days while medicals are also being planned.
The 23-year-old will initially join Wolves on loan in January with a mandatory purchase option worth around €50 million at the end of the season.
It was reported earlier that Wolves were also negotiating the transfer of Los Rojiblancos defender Felipe, but Romano hasn’t provided an update regarding the Brazilian defender.
Wolves’ striking options were depleted following injuries to Sasa Kalajdzic and Raul Jimenez, with the former ruled out of the season with an ACL setback.
Lopetegui doesn’t see Jimenez in his plans, and he has reportedly given the nod for the Mexican’s departure in January.
Cunha struggled for game time at Atletico after failing to convince Diego Simeone, who has often preferred Alvaro Morata and Antoine Griezmann in attack this season.
Joao Felix has also fallen out with Simeone and looks to be on his way out either in the January transfer window or next summer.
Cunha will be hoping to revive his career at Wolves, and Lopetegui will be keen to get the best out of the former Hertha BSC star.
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