Wolverhampton Wanderers have reportedly had a bid of £34.7m rejected for AC Milan striker Andre Silva.
The 22-year-old moved to San Siro last June in a £33.5m transfer from Porto but has yet to find the net in Serie A, leaving the Italian side open to the idea of selling him off this month.
Everton and Arsenal have been linked with his signature in recent weeks, but according to Italian publication Corriere della Sera, Wolves have already lodged a mammoth bid and have been rejected.
The reports suggest that the Championship leaders are planning to return with a second bid as they look to make certain of promotion to the Premier League in the second half of the campaign.
The Midlands side already broke the transfer record for England's second tier six months ago when they spent £15.8m on acquiring Ruben Neves from Porto, where manager Nuno Espirito Santo was in charge last term.
Wolves - backed by wealthy Chinese firm Fosun International - currently have a 12-point advantage at the top of the table.
