Wolverhampton Wanderers are closing in on the signing of Joao Carvalho, according to reports emerging from Portugal.

Portuguese media outlet Record, reported via Football London, claim that Wolves will beat off Arsenal to land Joao Carvalho in January.

Arsenal have reportedly been chasing the 20-year-old as Arsene Wenger looks to bolster his squad for the long term future at The Emirates.

However, despite being able to offer European football, the Gunners look set to miss out to Championship table toppers Wolves in this pursuit.

Wolves will use their links to snap up the highly rated young midfielder.

Joao Carvalho's agent is Jorge Mendes, who is also the super agent responsible for bringing the likes of Helder Costa, Ivan Cavaleiro and Ruben Neves to Wolves.

Mendes has a good connection with Wolves boss Nuno Espirito Santo and this deal now looks likely to go ahead.

Diminutive midfielder Carvalho is thought to be one of the brightest prospects in Portuguese football and Wolves are in pole position to bring him to England.

The Portugal under-21 international, who plays as a centre attacking midfielder or as a winger, has been representing Benfica B this season but could move away from the Portuguese giants to gain first team football elsewhere.

The Verdict

This seems like yet another coup for Wolves.

With the Portuguese links that they have, Wolves and Nuno Espirito Santo are able to attract the best young players from Portugal, who are constantly providing a pool of talented youngsters.

To beat Arsenal to a signing is no mean feat and this underlines Wolves' credentials for promotion.

Wolves fans - Is this good news? Let us know below...