Crystal Palace are pushing to sign Wolverhampton Wanderers forward Jorgen Strand Larsen and are set to submit a bid of around £45m.
Strand Larsen, 25, appears certain to leave Wolves before Monday’s transfer deadline and Palace are now in advanced talks to try to close a deal.
Leeds have already had a bid rejected for the Norway international, as reported by Telegraph Sport last week, but Palace are now moving to the front of the queue.
Wolves have been sticking to a minimum £40m valuation and considering a number of their own targets before the window closes.
Palace’s move for Strand Larsen could accelerate the departure of Jean-Philippe Mateta, who is a target for Nottingham Forest.
Strand Larsen was on an initial loan from Celta Vigo last season before joining Wolves permanently for £23m.
Palace’s negotiations are being driven by their sporting director, Matt Hobbs, who left a similar role at Wolves last summer and was heavily influential in Strand Larsen’s signing.
After the Leeds bid, Wolves head coach Rob Edwards said last week: “We’re under no pressure to sell. We want to try and be as strong as we can throughout the period. Unless we feel it’s the right thing, no one will go.
“No one’s been knocking on my door [to leave], no one, they’ve all shown real desire and attitude to be here.”
Strand Larsen was a target for Newcastle last summer, with Wolves rejecting bids of £50m and £55m before persuading him to sign a new contract.
Wolves face Bournemouth at Molineux on Saturday afternoon.