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John Percy of the Daily Telegraph reported on Monday evening that the Clarets’ Republic of Ireland international centre back was closing in on a £20.5m switch to Molineux, and the the 21-year-old appears to be edging towards completing a return to the Premier League.

Collins was signed from Stoke City for an initial £12m fee last June – rising to what would have been in excess of the club record outlay of £15m with add ons.

However, it looks like the former Cherry Orchard youngster will leave Turf Moor without triggering those, after making 19 Premier League appearances, scoring twice.

LODZ, POLAND - JUNE 14: Vitaliy Mykolenko of Ukraine has a shot on goal whilst under pressure from Nathan Collins of Republic of Ireland during the UEFA Nations League - League B Group 1 match between Ukraine and Republic of Ireland at LKS Stadium on June 14, 2022 in Lodz, Poland. (Photo by Adam Nurkiewicz/Getty Images)

He will become the most expensive Irish player in history, eclipsing currently the €23m which Liverpool paid Spurs for Robbie Keane in 2008.

Wolves have been monitoring the centre back's situation since Burnley's return to the Championship was confirmed in May.

Bruno Lage has lost Romain Saiss to Besiktas, while Burnley have already looked to add to that department with the arrivals of Luke McNally, Taylor Harwood-Bellis and CJ Egan-Riley after the departures of James Tarkowski and Ben Mee.

Burnley centre back Nathan Collins set for Wolves medical - report