Wolves to seal the deal for bargain winger Michael Jacobs

Wolves were today closing in on the cut-price signing of one of the new Molineux favourites, Michael Jacobs.

The winger, who has completed a three-month loan from Derby, is poised to clinch a full transfer for a bargain fee in the region of £200,000.

The news will delight Wolves fans who have taken to the skilful wing-man in a big way since he arrived in early November. And head coach Kenny Jackett admits the move for a permanent transfer is a reflection of the faith he has in the 22-year-old prospect improving still further.

"We haven't quite agreed everything yet but we are very hopeful we will take him on a permanent deal," said Jackett. "That reflects my confidence in him and what he has done since he has been with us. We think he is a player with a bright future and lots of potential."

Jacobs has caught Molineux's imagination with some exciting wing-play and ball-carrying ability which have made him one of the hits of the campaign so far.

Jackett accepts that a striker remains a priority but distanced himself from early speculation linking Wolves to Bradford's Nahki Wells and Bournemouth's Wes Thomas. Both are running down their contracts but the head coach said: "We did enquire about Wells but his ambitions lie above League One."

Wolves have been linked with Thomas since Yeovil's Gary Johnson, who was also chasing his services, revealed: "The lad's agent and the club have said he's got his heart set on a particular big club that is interested in him and that's where he wants to go."

Wolves and Swindon were said to be in the hunt but Jackett gave a firm "no" to the stories yesterday.

Fanciful notions that one of the region's most fabled strikers, 40-year-old Kevin Phillips, might see out his career with a Molineux finale were also cooled.

"I do feel we need some pace along our front play – we do lack pace," said Jackett. "That's something we need to bring in."

Phillips, 40, will retire at the end of the season after leaving Crystal Palace.