According to the Rome-based radio station Radiosei (7:20am BST on 25 June), Lazio centre-back Wallace is a target for Premier League newcomers Wolves.
Wolves boss Nuno Espírito Santo is looking to make his sixth signing of the summer ahead of their return to the Premier League this coming season. After completing the permanent signing of centre-back Willy Boly from Porto, the West Midlands side are rumoured to be interested in the Brazillian to partner him.
Valued at £6.75m by Transfermarkt, the 23-year-old is represented by Jorge Mendes who has already helped Nuno bring a number of players from across Europe to the Molineux.
Wolves may be better off looking closer to home to find a partner for Boly. Aston Villa’s poor financial situation has seen an exodus of players this summer and Nuno could take advantage of this to sign James Chester.
The 29-year-old is comfortable on the ball and would slot perfectly into the Wolves side at present. Crucially, he also has the Premier League experience that Wallace, and much of the Wolves squad, currently lack.
The Welshman has featured in the top division for both Hull and West Brom and, having played alongside John Terry last season, certainly knows how to be a leader in a dressing room.
Valued at €8m by Transfermarkt he could prove a bargain for Wolves and be crucial to their upcoming Premier League campaign.