Wolves have reached an agreement to loan Francisco Trincao from Barcelona for the remainder of the season. Rayan Ait-Nouri is close to a permanent deal.
Trincao can be bought by the Premier League club for 25 million next summer.
The 21-year old winger was signed by Barcelona last year for 26.5m. He also has six caps for Portugal.
Last season, he made 28 La Liga appearances in Barcelona and scored three goals.
Scott Sellars, Wolves technical director, stated that he has been watching him closely, particularly over the past few months.
He's a great player and signing for Barcelona from Braga is a testament to his potential. He is 21 years old and has played a lot in La Liga. We believe he is ready for the Premier League.
He is a player who can drift past people and has great control over his ball movement. He can move at speeds of two to three yards and change direction quickly. This makes him an exciting player.
Trincao will fly to the UK on Sunday, but Trincao will have to quarantine in order to join the Wolves squad.
On Monday, the club will return to preseason training. This will be Bruno Lage's first meeting with the players since he took over from Nuno Espirito Sante.
Trincao already plays with six of his Wolves teammates for Portugal.
Sellars said, "We have a large Portuguese contingent and they look after one another well but are also integrated into the whole group."
"They are hardworking and have a positive mentality so I know he will integrate well and settle quickly.
"The manager is from Portugal and he knows him well. We are very excited to have him at the club."
Image: Rayan Ait-Nouri appeared 21 times for Wolves in the last season
Wolves are now close to signing Ait-Nouri, a 10m-long female from Angers.
France U21 defender, Molineux. His deal included a 20m option. However, that was rejected.
Instead, Wolves reached a deal worth 10 million with a sell-on clause that can be renegotiated later.
Ait-Nouri will arrive next week and Wolves will sell Ruben Vinagre, wing-back to Sporting Lisbon, also at 10m.
While Vinagre was on loan at Famalicao, the Portuguese champions were impressed by Vinagre's performance.