Baggio in Wolves talks
The Premiership newcomers have launched their most daring summer raid yet and their interest in the Lazio ace was disclosed by planetfootball last week.
Baggio has arrived in the Black Country to discuss a switch to Molineux in a season-long loan deal from Serie A.
The experienced midfielder may even train with his prospective new team-mates although Wolves chief executive Jez Mozey conceded a deal was far from being done and dusted.
"Dino Baggio is coming in today to talk to us and for us to talk to him," said Moxey. "And that's the long and short of it.
"He will perhaps go and meet the team and maybe, maybe do some training. But there are no agreements for either party and it is just a case of both sides meeting up for the first time and talking about the future. We will see what develops."
Moxey also confirmed Wolves appear to have beaten off competition from Bordeaux to snap up Le Havre goalkeeper Carlos Kameni, although the possibility of securing a work permit for the Cameroon international could be a stumbling block.
"If necessary we would take it to appeal," said Moxey, after Kameni arrived for talks and a medical.
"A deal is in place with his club Le Havre which would see us take him on loan for a year and then discuss a permanent signing."
Wolves are also waiting on the results of medical tests before wrapping up their deal to sign Tottenham's Norwegian striker Steffen Iversen.
Meanwhile, Wolves have also been tenuously linked with a raid on Sunderland for defender Jody Craddock, although rumours of a £1.5 million bid seem a little surprising.