Wolves journalist and reliable source Liam Keen has shared a big transfer update on the club's pursuit of Atletico Madrid forward Matheus Cunha.

The Lowdown: Old Gold in chase...

The Premier League relegation-battlers, lead by new manager Julen Lopetegui, are said to be seriously chasing the signing of Cunha who was recently left out of Atletico's squad for a friendly against Ponferradina.

Staring down the barrel of a potential season in the Championship next year, the Old Gold have scored fewer goals than any side in England's top flight - seriously highlighting the need for further attacking additions.

Various reports have suggested that Wolves and owners Fosun International are favourites to sign Cunha from Atletico, with Keen now sharing a further update involving the Brazilian.

The Latest: Keen shares big Cunha to Wolves news...

Keen, a reliable journalist for the Express and Star, has stated that Wolves are 'closing in' on his signing with 'talks ongoing' over his signature.

He explained:

"Wolves are closing in on the loan signing of Matheus Cunha from Atletico Madrid. A lot of competition for his signature, but Wolves looking to get it over the line. Permanent fee could rise to £40m." (Twitter)

Expanding further, Keen went on to say negotiations are ongoing over whether the permanent fee will be obligation or optional.

"Negotiations ongoing over whether that permanent fee will be an option or an obligation, but current feeling is it will be an obligation. Talks ongoing to get it finalised." (Twitter).

The Verdict: Brilliant news...

The addition of Cunha appears to be getting more and more likely as potentially brilliant news for Wolves.

Lopetegui's need for a goal scorer is no secret, and despite a lacklustre time at Atletico, the 23-year-old has been praised by former coach former coach Maurizio Jaccobacci for his goalscoring 'instinct' and 'very fast' attributes physically.

If all goes well, Cunha could be a real asset at Molineux.