Arsenal and Chelsea are both on the trail on Helder Costa.
According to a report in The Sun the Wolves winger will be a £20m transfer target as soon as the window opens in June.
Costa joined Wolves in a £13m deal in January after impressing on loan from Benfica but it looks like his stay in the midlands could be cut short.
Despite Wolves struggling in the bottom half of the Championship Costa has made a big impact scoring 10 goals despite playing out wide.
Antonio Conte has been tracking the 23-year-old since Chelsea faced Wolves in the FA Cup with Arsenal monitoring his development since earlier in the season.
Wolves boss Paul Lambert would be reluctant to part with one of his best players but a £7m profit would be hard to resist with the money being reinvested.
Despite beating Rotherham 1-0 on Saturday Wolves are only one place above the relegation zone.