Wolves closing in on Georg Margreitter

Wolves were today closing in on the signing of £2m-rated Austria Vienna centre-back Georg Margreitter as the club starts to spend the £24m war chest from the expected sales of Steven Fletcher and Matt Jarvis.

Boss Stale Solbakken is keen to rebuild with the exit of Fletcher and Jarvis, due to be completed today, netting up to £24m.

He also wants a winger, with FC Copenhagen's £3m-rated Christian Bolanos and Manchester United's Robbie Brady, who would cost £1.2m, among those on the radar, along with others from northern Africa.

Commanding 23-year-old stopper Margreitter, who has a year left on his contract, flew to England yesterday with his agent after being given permission by Vienna to start talks.

Wolves, who confirmed they are trying to conclude a deal for the defender, watched the 11-capped Austria Under-21 international impress during their 1-0 win at SV Ried on Sunday and acted quickly on the move.

Austria Vienna's sports director Thomas Parit said: "Georg has never made a secret of the fact England is his absolute football dreamland. We wish him the opportunity which it may offer now and don't want to obstruct him."

But there is still some work to be done to agree a fee, although Wolves are confident of a quick deal.

Margreitter, who stands 6ft 2ins tall, is said to be one of the most highly-rated young players in his country, but has only played 27 games for Austria Vienna since joining them from LASK Linz in 2010 following a season-long loan spell at FC Magna Wr Newstadt.

The defender played 28 games for Linz before 30 appearances in his stint at FC Magna Wr Newstadt.

Solbakken hopes Margreitter is the answer to his summer-long search for a commanding centre-half.

The Norwegian missed out on Vadim Demidov, who chose Eintracht Frankfurt, and Cologne's Pedro Geromel, who signed on loan for Real Mallorca yesterday, while it is understood Stefan Savic's wages at Manchester City are too high for Wolves.

Swindon winger Matt Ritchie is not understood to be a Wolves target, as has been suggested elsewhere.