Liverpool have agreed a £45m deal for Wolves forward Diogo Jota, with the 23-year-old set to head to Melwood on Saturday to undergo a medical before completing the deal.
The move comes just hours after the Premier League champions secured the signing of Thiago Alcantara from Bayern Munich in a deal that could be worth up to £25m.
Jota's arrival at Anfield follows defender Ki-Jana Hoever moving in the opposite direction to Wolves in a deal worth £10m, plus add-ons.
The 18-year-old Dutchman has signed a five-year contract with Wolves.
Hoever, who has appeared four times for Jurgen Klopp's side, can play right wing-back, right-back and centre-back - all positions which Wolves are looking to strengthen during this transfer window.
The 18-year-old joined Liverpool from Ajax in 2018 and only signed a new long-term contract at Anfield last summer.
Wolves head coach Nuno Espirito Santo says Jota is "going to the right place" after confirming the player was joining the Premier League champions.
"Diogo is amazing and everybody knows the relationship we built. What Diogo did for us is absolutely fantastic," said Nuno at a pre-match press conference on Saturday, ahead of Monday's clash with Manchester City.
"I think Diogo is going to the right place and we wish him all the best, knowing that it never be forgotten, especially by our fans, all the memorable moments that Diogo provided."
Nuno hopes to swiftly recruit a direct replacement for Jota having already identified an unnamed target.
"We still have to adjust the squad. It's clear that we need to balance our squad better. We already identified the targets, we know the player we want to bring and now we hope that our plan continues as it previously did.
"Jeff (Shi, Wolves' executive chairman) knows who is our target and where we need to work on our squad."
Speaking about 18-year-old Dutchman Hoever, Nuno added: "Ki will join us. He's a young player, a player that I think really has potential, has talent. And it's up to us to take the best out of him."
Summer transfer window - key dates and times
The summer transfer window closes at 11pm on Monday October 5 with a feast of activity lined up on Transfer Deadline Day on Sky Sports News and across our Sky Sports platforms.
A domestic-only window for deals between the Premier League and EFL then runs from October 5 and closes on Friday, October 16 at 5pm. Follow all the news and analysis on SSN and across Sky Sports' digital platforms, including with our dedicated Transfer Centre blog.