Wolves are closing in on the signing of Birmingham defender Roger Johnson after agreeing a fee approaching £7million, Press Association Sport understands.
Johnson held talks with Wolves officials at Molineux this morning and is now undergoing a medical.
Sources close to Wolves anticipate the deal being completed sooner rather than later.
Wolves boss Mick McCarthy has been keen to bring in a new centre-back since the end of last season.
He had a £3million-plus bid rejected for Reading's Matt Mills before he moved to Leicester last week.
But Johnson has been on his radar since the end of last season when Blues were relegated from the Premier League.
City had initially been hoping to secure around £10million should Johnson leave St. Andrew's but a compromise has been reached between the two clubs.
Lifelong Chelsea fan Johnson moved from Cardiff to St. Andrew's in a £5million deal two years ago.
He quickly adjusted to the top flight and formed an effective partnership with Scott Dann, another Championship player with Coventry.
Wolves midfielder Jamie O'Hara will be sidelined for two weeks of pre-season training with a sore calf but will be fit for the start of the new campaign.
O'Hara, signed last month from Tottenham for £5million, suffered the injury during the training trip to Ireland last week.
O'Hara tweeted: "Calf still sore, maybe it's a strain. It could be a couple of weeks.
"But there are five weeks until the start of the season and I'll be flying."
The setback seems certain to rule O'Hara out of the opening pre-season friendly at Crewe this weekend.
O'Hara made the permanent switch to Molineux after an initial loan spell in which he scored three goals in 14 games and played a key role in Wolves' top-flight survival.