Wolves have opened contract talks with Ruben Neves.

The Arsenal boss sees the £50million-rated Molineux midfielder as key to his rebuilding plans with Manchester United, Real Madrid and Arsenal monitoring Neves, who will have two years left of his current contract this summer.

However, Wolves know they must move now to convince Neves to extend his current deal - or cash in this summer while his value remains high, to fund new signings for Bruno Lage.

"We're obviously talking to him and we all know how much he loves playing for the club. We know how much he has settled here, but he is also an ambitious young man," said Wolves Technical Director Scott Sellars.

"As with all players, you try and have an open dialogue with them and their representatives to come to the best scenario for the club and the player.

"Rightly so, elite clubs all over Europe will have Ruben on their radar, but we have an excellent relationship with him and will do things properly, and collaboratively, when the time is right.

"Ruben is having a fantastic season and everybody should take a pat on the back in terms of how well he is playing."