Wolves have confirmed the permanent signing of on-loan striker Raul Jimenez for what is believed to be a club record fee of £30m, shattering the previous £18m record paid to Middlesbrough for Spanish winger Adama Traore last summer.

Jimenez has been a revelation for Wolves this seasons and has been rewarded with a four-year contract that promises to keep him at Molineux until the summer of 2023.

Since arriving on a temporary deal from Benfica, the Mexico international has scored 15 goals in all competitions to help Wolves climb to seventh place in the Premier League table and reach the FA Cup semi finals at Wembley.

Having scored just once during a spell at Atletico Madrid and never managing more than seven league goals in any of his three years in Portugal, Jimenez's goal tally for Wolves this season is his best since leaving boyhood side Club America in 2014.

The club's sporting director Kevin Thelwell said: “The impact Raúl has made during his short time at the club has been fantastic and we’re delighted that he’ll be part of the club’s long-term future. From the second he walked through the door, he settled straight into the group, and that reflects in his performance, with Raúl providing assists and overall selfless performances, as well as obviously goals.

“His goals in the Premier League and FA Cup have been vital to this season’s success and we’re looking forward to seeing him contribute even more during what will be an exciting end to the season in both competitions. Raúl’s permanent signing shows the ambition of this football club and the determination to make sure the future is an exciting one.”

Wolves and Jimenez will have the chance to make 2018/19 even more memorable this weekend when they face Watford at Wembley for a place in the FA Cup final on Sunday.

Wolves last played in the FA Cup final in 1960, beating Blackburn Rovers and becoming the first English team to enter into the UEFA Cup Winners' Cup the following season.