Wolves boss Kenny Jackett today confirmed the club have agreed a fee to sign Benik Afobe from Premier League giants Arsenal.
The England Under-21 international is on a season-long loan at Milton Keynes Dons, who will be ended early as the Gunners have decided to sell him.
The 21-year-old is undergoing a medical ahead of his arrival at Molineux, but he will be ineligible for Tuesday's FA Cup replay at home to Fulham.
Former club Huddersfield Town have also been linked to the forward, but it appears the Terriers have lost out to Wolves for his services.
Jackett said: "We have agreed a fee with Arsenal for Benik Afobe and he is undergoing a medical this weekend. We are working towards concluding that early next week.
"I watched him come through at Arsenal and watched his progress to this time. We feel, at 21, he fits into the bracket that we are looking for that we feel can improve us.
"He's been brought up at a very good club and has the pace, power and goalscoring record that we need. He will help us in the second half of this season and the years to come.
"Like a lot of our players, I am sure he will be keen to prove himself in the Championship and we feel we will be getting him at a very good time."
Afobe came to national attention after netting twice for the Dons in their stunning 4-0 Capital One Cup win at home to Manchester United earlier in the season.
He's never made a first-team appearance for Arsenal and is in his sixth loan spell having previously served Huddersfield, Reading, Bolton, Millwall and Sheffield Wednesday.
How it all began - Watch how Benik Afobe grew through his teens with Arsenal before making the step up to first-team level with other clubs.
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