Wolves confirm signing of Arsenal transfer target

Wolverhampton Wanderers have confirmed the signing of Matheus Cunha on loan from Atletico Madrid.

The Brazilian was used sparingly by the Spanish giants this term and he was widely touted to move to the Premier League.

Arsenal were among the clubs interested in signing him, but Wolves have now won the race to secure his services from Atletico.

Cunha told Wolves' official website: "I'm really excited to be part of this group and to be part of this club – it's a big club."

"I'm excited to play in the Premier League, to play in Wolverhampton. I think the most important point is that I'm happy like a kid."

As part of the transfer agreement, Wolves have the obligation to buy the striker for around €50m if certain conditions are met.

The Midlands outfit will be hoping that he can make an instant impact as they are currently rockbottom of the top-flight table.

They need a huge turnaround to avoid a surprise relegation.