Tottenham are set to launch a bid of £22m for Adama Traore after making contact with Wolves, with Wanderers manager Bruno Lage now sanctioning his exit.
The Spain international was one of Spurs' main transfer targets during the summer but no deal ever materialised due to the then asking price of £50m.
Now, 90min understands that transfer fee has dropped significantly after Traore rejected a number of fresh contract offers from the Wanderers. There had been talk of a new deal but no progress has been made and Wolves are now happy to let him leave.
Liverpool, Leeds and West Ham are all being kept informed of the situation but Spurs currently lead the queue of clubs as managing director Fabio Paratici leads talks between the two sides.
Traore's representatives have made it clear to Spurs that he would be willing to fit into manager Antonio Conte's wing back system as he wants to play under the Italian and believes he would improve in north London.
Conte was also interested in Traore during his time at Chelsea, back when the winger was still with Middlesbrough, but nothing came of it.
It's also believed a move to Spurs would help Traore cement his place in Spain's national squad.
When asked about potential outgoings this window, Wolves boss Lage said: "When you want to do next step, every time you sell your best players, the next step never happens. But in the transfer window, you never know if something happens in last minute, you have to decide what is best for the club and the player."
Spurs have offered Matt Doherty and Joe Rodon among others as potential makeweights in the deal. Wolves are currently looking for cash only, though that could change in the future. They also asked about Wolves defender Max Kilman, who has impressed this season, but any such move would be one for the future.
Tottenham signed Emerson Royal during the summer but his delivery from out wide - an important weapon in Conte's attacking tactics - has been disappointing so far.