Björn Sigurdarson will sign for Wolves in a £2.4million deal next month, according to the 21-year-old's agent.
Sigurdarson has been linked with Wolves since the appointment of Norwegian boss Stale Solbakken at Molineux last month.
And a deal for the Lillestrom forward appears to have been done - on the proviso that the player stays fit until the end of their club season.
Jerry de Koning, the player's agent, claims Sigurdarson will stay at Lillestrom until July 13th with the Iceland international then undergoing a medical at Molineux on July 16th.
De Koning is concerned by the fact that it leaves Sigurdarson forced to play with the risk that an injury could scupper his big move.
"He was sold to Wolverhampton for three million euros, but if he is injured during the games he will play in Norway, he will not be offered a contract," he told Romerikes Blad.
"Therefore, he will play under a great risk. I think that everyone understands that Björn is in a very difficult situation.
On Thursday, Sigurdarson vented his frustration on his Twitter account at being told to stay at Lillestrom until July.
He wrote: "I've just had a meeting with the board. They forced me to stay. Mentally destroyed."
Sigurdarson has scored seven goals in 11 games for Lillestrom so far in this campaign and the club's sporting executive Torgeir Bjarmann has outlined their position.
He told VG Nett: "We want to keep Bjorn for as long time as possible because of our position in the league table.
"We are third last and have important games coming up, so we will keep him."
When Lillestrom hosted Aalesund last month, Wolves boss Solbakken attended the match to see Sigurdarson in action, prompting an enthusiastic response from the player.
"I did not know that Stale Solbakken was here today. It's fun that people are interested and want me at their club. It would be awesome to play for him one day," he told VG Nett after the game.