Skysports.com understands Burnley striker Steven Fletcher is set to move to Wolves in a move worth £7.5million.
Fletcher joined the Clarets last summer from Hibernian for £3million but following his side's relegation to the Championship last season could now be on his way out of Turf Moor.
The 23-year-old Scotland international put in a number of admirable performances for Burnley last term, despite Brian Laws' men going on a terrible run which saw them drop out of the top-flight at the first time of asking.
Wolves, on the other hand, found some good form this year and steered clear of the Premier League's relegation zone, finishing the campaign 15th in the table.
Manager Mick McCarthy has signalled his intention to strengthen his squad during the off-season, and Fletcher is understood to be high on his list of priorities.
Wolves only managed 32 league goals last term - the fewest of any team in the division - and Fletcher could provide the necessary quality to pose more of a threat in the final third.
In a struggling Burnley side he managed eight goals in 35 league starts, and is now set for a big-money move to Molineux.
And it appears Wolves duo Wayne Hennessey and Chris Iwelumo are set to go the other way and join the Clarets on loan.
Goalkeeper Hennessey did make 13 Premier League starts last season but is not Wolves' No.1 stopper, while striker Iwelumo did not find the net once in 17 appearances.