It is reported that Chinese conglomerate Fosun International is behind the impending £45m takeover of English Championship side Wolverhampton Wanderers.

Earlier this year, Fosun teamed up with Gestifute, the Portuguese football agency founded by Jorge Mendes, agent of Jose Mourinho and Cristiano Ronaldo.

Although Baidu CEO Robin Li was widely believed to be behind the purchase of the club, The Telegraph claims that Fosun is poised to complete the deal within the next fortnight.

At the same time, it is reported that former Porto manager Julen Lopetegui will replace Kenny Jackett as manager once the takeover is finalised, while Mendes is expected to have an active role in recruitment moving forward.

Mendes is already thought to be considering a host of transfer targets, including the likes of Anderson Talisca, Pele and Helder Costa from Benfica.

Fosun will also support the new manager with a considerable transfer budget in order to restore Wolves to the Premier League at the earliest opportunity.

Source: The Telegraph

Proofread by Sean O Diobhilin