Wolves and Newcastle United target 'on his way' ahead of £25.6m transfer

Wolverhampton Wanderers and Newcastle United have missed out on transfer target Hugo Ekitike as the Paris Saint-Germain forward is set to sign for German Bundesliga side Eintracht Frankfurt.

The 21-year-old striker only joined Paris Saint-Germain last July for a fee of £24.4 million but is set to be moved after starting just 12 times in Ligue 1 throughout the first half of the season.

Transfer news specialist Fabrizio Romano reports Ekitike will join Frankfurt on an initial loan deal but with a mandatory buy clause of €30 million (£25.6 million). This news comes just over a week after Sky Germany reported a basic agreement had been reached.

Wolves and Newcastle were both heavily linked with Ekitike earlier in the winter transfer window but precarious positions concerning Financial Fair Play (FFP) and Profit and Sustainability Rules (PSR) meant any deal was impossible until players were sold.

It was hoped a loan approach could work out as Ekitike was willing to take a slight pay cut from £3.4 million per year to £2.6 million per year, but Frankfurt's pursuit has proved successful. Wolves are still assessing striker options - including Chelsea's Armando Broja - while Newcastle are done for the window.