Barcelona loanee Trincao endured a difficult season at Molineux, scoring just three and registering one assist in his 30 games in all competitions.
Within those 30 games the 22-year-old only shone on a handful of occasions as he flattered to deceive in Bruno Lage’s side.
Now, the Express & Star understands that Wolves will not be taking up the £25million option they had to sign him permanently this summer.
The club has also publicly announced that Hwang Hee-chan will be taking Trincao’s squad number 11 for next season, while Fabio Silva has taken the number 21 that was previously held by John Ruddy. Supporters who have bought the new kit with the wrong number are eligible for a free exchange.
Wolves will also have to tie up the future of Traore this summer and the Express & Star understands he is likely to leave.
The winger is in the final year of his contract and returned to Compton on Thursday for pre-season training, following his loan spell at Barcelona.
The Catalan giants had a £29million option to buy Traore but are unlikely to take it up.
Despite that, the Spanish forward is still likely to depart Molineux as he has no intention of signing a new deal.
Wolves were in advanced talks with Traore over a new contract and offered him improved terms last September when Spurs failed to sign him in the summer transfer window. However the two parties could not come to an agreement and Traore made it clear that he does not wish to sign a new deal – meaning conversations over resurrecting that contract have not taken place.
Wolves will be eager to recoup some money for a player they spent £18million on in 2018 and who has seen his market value decrease due to his contract length.
It is understood that Wolves are yet to receive an offer for Traore and he could only stay with Wolves if a suitor cannot be found.
In the meantime, Traore will begin pre-season preparations with Wolves. It is understood he is keen to remain professional and will stay with the squad until a move materialises.
Meanwhile, Ruben Vinagre’s permanent move to Sporting has officially gone through. Wolves will receive a fee in the region of £7.5million and have a sell-on clause in the deal.
Young goalkeeper Louie Moulden has also completed a loan move to Solihull Moors after an impressive spell with Ebbsfleet last season.