Wolverhampton Wanderers have reportedly identified Valencia defender Joao Cancelo as a potential transfer target.

Despite having been allowed to spend a season on loan at Inter Milan - where he made 26 appearances in Serie A - Cancelo is highly regarded in Europe and has recently been linked with both Manchester City and Manchester United.

However, according to Super Deporte, Wolves are interested in securing the 24-year-old's signature and are prepared to spend big on the Portuguese.

The report claims that Nuno Espirito Santo is a long-time admirer of the player, and the pair are no strangers to each other with Nuno having been manager at Valencia during Cancelo's early days at the Mestalla Stadium.

Cancelo would allegedly take some convincing to make the switch to the newly-promoted Premier League side, but the player is represented by super-agent Jorge Mendes who advised owners Fosun International to buy the West Midlands outfit.