£35m Bid For Portugal International
Newly-promoted Wolverhampton Wanderers are in talks over a £35million move for the Valencia full-back Joao Cancelo.
The 24-year-old has spent the past year on loan at Inter Milan. But Uefa’s Financial Fair Play rules meant that Inter were unable to raise the €35million (£30.6million) to make the move permanent. That particular clause expired on 31 May.
Valencia have FFP issues of their own and need to sell players by 30 June in order to remain within Uefa’s guidelines and avoid sanctions of their own.
According to reports on Tuesday morning Wolves are ready to offer €40million (£35million) for the Portugal international.
Cancelo is a client of super-agent Joao Mendes who has links to both Wolves and Valencia. Mendes is a close friend of Wolves chairman Jeff Shi but also of Valencia’s billionaire Singapore owner Peter Lim.
Wolves have been criticised over the signing of a number of Mendes clients over the past year. Cancelo’s move would only add fuel to the fire.
Cancelo can play both as a right-back or as a right winger. He made a total of 28 appearances for Inter in Serie A and the Coppa Italia – 22 as a starter and six off the bench,