Wolves are in talks to sign striker Leonardo Campana from Ecuadorian club Barcelona SC.
Campana impressed for Ecuador at the South American U20 Championship, top-scoring at the tournament as Ecuador were crowned champions.
If the deal to join Wolves goes through, the 19-year-old is expected to initially feature for the club's U23 side.
He will not require a work permit as he holds a Spanish passport.
Campana was linked to some of the biggest clubs in Europe back in August, with Serie A side Napoli among the teams rumoured to be interested.
How to follow the January transfer window
Sky Sports will bring you the very latest news from the January transfer market with the return of three shows.
Start your day with Good Morning Transfers at 9am as our team of reporters bring you the latest news and insight. Transfer Talk then follows at midday delivering analysis of the biggest stories. Then join us at 7pm for the definitive round-up of the day's news with The Transfer Show.
Meanwhile, the Transfer Talk podcast will also be back at the turn of the year with more expert analysis from here and across the continent.
And as well as tuning into Sky Sports News, don't miss a thing with our dedicated Transfer Centre blog.