Wolves are set to sign the Portugal midfielder Matheus Nunes after agreeing a deal worth €45m (£38m) plus €5m in add ons with Sporting for the 23-year-old.

The deal, which represents the player’s buyout clause, would be a club record for Wolves, beating the £35m they paid for Fábio Silva last summer. Silva is currently on loan at Anderlecht.

Several clubs, including Liverpool and Manchester City have had Nunes, an attacking midfielder, on their radar after three seasons at Sporting. Last year he made his Portugal debut and has eight caps and one goal for his country. Part of the add-on fee would be paid in case Wolves reach the Champions League. Personal terms are yet to be agreed.

Wolves have so far recruited Gonçalo Guedes for £27m from Valencia and Nathan Collins from Burnley for £20.5m while the club captain Conor Coady is among the players who have been allowed to leave. He has joined Everton on loan.

Bruno Lage’s side have had a frustrating start to the season, losing to Leeds 2-1 before a 0-0 draw with Fulham at the weekend. They next face Tottenham away. Lage said after the Fulham game that his players “needed to grow up” but added: “I think we had clear chances, obvious chances, to score goals. So, in the end, what we look for is the performance. Again, another good performance, with personality.

“And I can see by the way the fans responded at the end that they enjoyed the performance. Now it’s time to continue to work. We are working hard, we are working hard in everything.”