Chinese group Fosun International are expected to complete their £45million takeover of Wolves imminently.
The Sky Bet Championship side have been up for sale since 2015 and Press Association Sport understands they will confirm the buy-out shortly.
Fosun International has links with super-agent Jorge Mendes who represents Jose Mourinho and Cristiano Ronaldo.
Owner Steve Morgan was looking for around £40million after putting the club on the market and quitting as chairman.
Chief executive Jez Moxey has been managing the club on a day-to-day basis and could stay at Molineux despite the change of ownership.
The future of manager Kenny Jackett is in doubt, with the 54-year-old understood to have told the team earlier this month that the takeover was going ahead and he had been given no assurances over his future.