Wolves are in talks for Atletico Madrid striker Matheus Cunha and it could pave the way for Raul Jimenez to leave.
New Molineux head coach Julen Lopetegui is assessing his squad at a warm weather training camp in Spain.
Jimenez,31, has joined up with club-mates after Mexico were knocked out of the World Cup.
The forward is yet to score this term in the Premier League and has struggled to recapture his best form after emergency surgery for a life-threatening brain injury in November 2020.
Lopetegui will give Jimenez a chance to prove himself and his fitness after Mexico failed to get out of Group C in Qatar, says the Mirror.
But he is already making a move to bring in Atletico Madrid striker Matheus Cunha, 23, who has eight caps for Brazil.
Lopetegui is also interested in Cunha's team-mate and compatriot Felipe, 33, who is a centre-back.