Wolverhampton Wanderers' takeover deal by Chinese investment firm Fosun International has been completed, according to BBC Sport.

Paperwork on the £45m purchase was reportedly finalised on Wednesday and a formal announcement is expected to be made later today.

Jose Mourinho and Cristiano Ronaldo's agent Jorge Mendes is believed to have been heavily involved in brokering the deal and is likely to have a significant role at the Championship side moving forward.

Current Wolves manager Kenny Jackett is expected to lose his job following the announcement, with former Porto boss Julen Lopetegui waiting in the wings as his replacement.

Mendes has already lined up a host of transfer targets - primarily from his native Portugal - and is aiming to rush through a number of deals before the new Championship season gets underway on August 6.

Fosun's takeover comes 10 months after Steve Morgan decided to put the Midlands side up for sale.