‘Release clause active’ - Wolves ‘very keen’ to wrap up deal for €26m Arsenal target

Wolverhampton Wanderers are reportedly interested in signing relegated Leicester City attacking midfielder Bilal El Khannouss this summer.

The Old Gold are assessing their options as they prepare for the imminent departure of Matheus Cunha, with the Brazilian expected to join Manchester United for £62.5 million. Liverpool’s Harvey Elliott has been under consideration but the Reds are charging upwards of £50 million – likely too much for Wolves to cough up for one player.

El Khannouss could be an alternative. The 20-time Morocco international isn’t as established at Premier League level as Elliott but he displayed glimpses of his talent throughout the season just gone. Leicester may have been relegated, but that didn’t stop El Khannouss from making an impression as he showcased his flair and effective ball-carrying.

Wolves want someone who can replace Cunha’s role as the creative heartbeat of the team. Although El Khannouss may not be ready to excel immediately, the attacking midfielder certainly looks promising and it seems like there’s plenty of potential to dig into.

Give Me Sport reports Wolves are ‘very keen’ to progress with a move for El Khannouss, who will be available this summer at a bargain price. Following Leicester’s confirmed drop to the Championship, the 21-year-old’s €26 million (£21m) relegation release clause became active.

All Wolves would have to do, then, is activate said clause and agree personal terms with the player himself. Straightforward then, right? Well, not exactly, as other clubs are interested and could create tough competition.

One of the teams keen is said to be Arsenal as Mikel Arteta is eager to add depth in attack following his team’s injury struggles throughout 2024/25. Arsenal Insider reports El Khannouss is seen by the Gunners as “an intriguing option” alongside Real Madrid’s Rodrygo.

Aston Villa, Newcastle United, Fulham, RB Leipzig, Napoli, Atalanta and Lazio have all been linked with El Khannouss, too. There’s no wonder as it’s not often such a talent becomes available for such a bargain fee.

Big summer ahead for Wolves

Now the season is over and Wolves survived relegation by a comfortable 17-point margin, the club can look ahead to next campaign without guilt. Vitor Pereira had the winter window to sign the likes of Emmanuel Agbadou, Marshall Munetsi and Nasser Djiga, but he’s yet to have a full summer to properly make his mark on the squad.

The 56-year-old head coach is expected to hold talks over extending his Wolves contract and he’s bound to be backed by the board in the transfer market as a result. He will have money to spend, too, as Cunha will leave for a record fee, in turn bolstering the budget available.

Some of that cash could be spent on El Khannouss if he’s willing to join, especially as the priority is signing a direct replacement for Cunha. Pereira is also understood to want to bolster the depth in defence and at centre-forward.

Quite a squad overhaul could take place this summer despite Wolves’ recent resurgence. It’s the first summer for Pereira to get fully involved in transfer business, after all, with the Portuguese manager eager to guide the Old Gold to bigger and better things after a strong start.