Wolverhampton Wanderers are reportedly close to signing Borussia Monchengladbach defender Nico Elvedi.

The Premier League outfit have spent the majority of the current transfer window attempting to generate funds in order to boost their position with FFP.

Conor Coady, Nathan Collins, Dion Sanderson, Hayao Kawabe and Ruben Neves have all been sold for transfer fees, while Joao Moutinho, Adama Traore and Diego Costa have departed on free transfers.

While speculation persists regarding the future of defender Max Kilman, who is attracting interest from Napoli, Wolves are in a position to start making additions of their own.

Regardless of whether Kilman remains at Molineux or is sold to the Serie A champions, Julen Lopetegui is in desperate need of fresh faces for the middle of his backline.

As it stands, only Kilman, Craig Dawson and Toti Gomes - now viewed as a left-back option - are senior players for the two central defensive positions.

However, according to Football Insider, Wolves have made considerable progress in their efforts to secure the signature of Elvedi.

The Switzerland international has spent the last eight years of his career with Monchengladbach, making a total of 270 appearances in all competitions.

Elvedi, who is also capable of playing at right-back, has earned 47 caps for Switzerland, two of which were earned at the 2022 World Cup as he started games versus Cameroon and Brazil.

With just a year left on his contract, the time has seemingly come to take on a new challenge in the Premier League with Monchengladbach allegedly ready to do business at £7.7m.

Elvedi featured in all but two of Monchengladbach's 34 Bundesliga fixtures during 2022-23, starting in each of those games and contributing heavily to their 10th-placed finish.

Over the past week, Wolves have also been credited with an interest in Matt Doherty, their former right-back who is available on a free transfer, and Bristol City midfielder Alex Scott.

Wolves have allegedly failed with a number of offers for the England Under-20 international, with the latest rejected bid said to be £22m. body check tags ::