With only one incoming signing secured for Wolves in the January transfer window so far which saw Japanese midfielder Hayao Kawabe join the Midlands club, it seems as though the Old Gold could be set to welcome a new face to their ranks.

What's the news?

According to journalist and transfer expert Fabrizio Romano in a recent Twitter post, Wolves have agreed a deal to sign Estoril attacker Chiquinho on a permanent basis for a fee of €3.5m (£2.9m).

He said: "Agreement completed between Wolverhampton and Estoril for Portuguese striker Chiquinho. Permanent deal for €3.5m plus €1.5m bonuses confirmed. Wolves Deal subject to medical - Chiquinho will be in England today in order to complete his move."

Lage will be buzzing

Having made a total of 84 appearances for Estoril at senior and youth level, the 21-year-old winger has managed to rack up a total of 20 goals and ten assists along the way, highlighting the attacking capabilities he has at a fairly young age.

Chiquinho's performances in the Portuguese league with Estoril this season have earned him an overall rating of 6.77/10 from WhoScored, which would place him as the sixth-highest rated outfield Wolves player in the Premier League at the moment.

With the likes of Francisco Trincao and Hwang Hee-chan only currently on loan deals at the Midlands club and the constant speculation surrounding Adama Traore's future as a Wolves player, signing Chiquinho could be a great piece of transfer business from the club.

He is a young prospect that has the potential to grow and develop his game in the Premier League, which would surely please manager Bruno Lage if the previously mentioned current attacking options end up leaving.

Given the significant number of Portuguese players in Wolves' squad at the moment, as well as Lage and his coaching staff, this will presumably help Chiquinho settle into his surroundings at the Midlands club swiftly.

Moving forward, it'll be interesting to see what sort of game time Chiquinho will be given at Molineux before the end of the season and before any potential transfer business takes place next summer which could then have a direct impact on the minutes he'd receive heading into next term.

Either way, it's still an exciting deal for Wolves to make for such a young prodigy that could potentially be the next Pedro Neto at Molineux; a young winger that has the capacity to score and assist goals on a regular basis.

If he can make anywhere near a similar contribution in the Midlands, Lage would be delighted.

In other news: £33k-p/w Wolves gem, who created two big chances, stars in victory over Southampton