Chelsea have rejected an approach from Wolves to sign defender Renato Veiga, talkSPORT understands.
Veiga is keen to leave Stamford Bridge this month to get more playing time.
Veiga joined the Blues from FC Basel last summer for a fee of £12million.
He made his debut coming off the bench in a 2-0 loss to Manchester City in the Premier League in August, before scoring his first goal in October.
The 21-year-old opening his account for the club in a 4-2 win over Gent in the Europa Conference League, in which he has played six games.
He then scored again for Chelsea in Europe’s third-tier competition during the 3-1 away victory at Astana last month.
But Veiga, who hasn’t featured the 5-1 win over Shamrock Rovers on December 19, has struggled to establish himself in the Premier League.
The youngster has been limited to just seven top-flight outings – with six of his appearances coming from the bench.
And the six-cap Portugal international’s lack of playing time has led to Wolves to formalise their interest in the player.
In the Premier League, Veiga has made only seven appearances, and Wolves have been quick to put in a bid to offer to secure the defender’s services.
As it stands, it remains to be seen whether the Midlands outfit will return with a second offer.
Veiga’s versatility had made him an attractive option for Wolves, having played at centre-back and left-back this term, as well as in a holding midfield role.
At Wolves he could rival Toti Gomes for a place in the heart of the defence.
Gomes is currently injured which would allow Veiga to step in.
Veiga’s strongest role has been identified as a left centre-back – the position new Wolves manager Vitor Pereira has been playing Gomes in of late.
Should Veiga link up at Molineux, he would be the club’s second signing of the January transfer window.
Defender Emmanuel Agbadou has already been brought in on a £15m deal from Ligue 1 side Reims.
Agbadou was Pereira’s first deal at the helm of Wolves as they prepare to face Bristol City in the FA Cup on Saturday.