Wolves have signed Portugal forward Goncalo Guedes from Valencia on a five-year deal worth £27.5m.
The 25-year-old scored 28 goals in 146 La Liga appearances after joining Valencia from Paris St-Germain on an initial loan deal in 2017.
Wolves’ need for a striker had become more pressing following an injury to Raul Jimenez in pre-season.
“We have been monitoring Goncalo for a long time and are very pleased to welcome him,” chairman Jeff Shi said.
Only the three relegated clubs, Burnley, Watford and Norwich, scored fewer than Wolves’ 38 Premier League goals last term.
Guedes, who can play on the wing or as a striker, began his career at Benfica and has won 32 caps for Portugal since making his senior debut in 2015.
He was part of the Portugal squad that won the 2019 Nations League, scoring the only goal in the final against the Netherlands.
He previously worked with Wolves manager Bruno Lage at Benfica and will join training at Molineux on Tuesday.
“He has natural talent and has performed very well across Europe and for his country, and we think he is well suited to the Premier League,” Shi added.
“Goncalo has played with many members of our squad previously, so we’re confident he will settle quickly into the group here.”
Wolves, who lost their Premier League opener 2-1 to Leeds, host Fulham at Molineux on Saturday.
