Wolves have submitted a loan offer with a buy option in their bid to sign Aaron Ramsdale, talkSPORT understands.
The Arsenal goalkeeper lost his place as the club's No1 to David Raya last season at the Emirates.
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The 26-year-old has since been deemed as surplus to requirements, with the Gunners open to letting the England international depart.
And Ramsdale is believed to be ready for a new adventure in his quest to play regular first-team football.
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Ramsdale was an unused substitute as Arsenal beat Wolves 2-0 in north London in their opening Premier League match of the season.
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The Midlands outfit have since made a loan bid to bring the ex-Sheffield United shot-stopper to Molineux.
It is understood that the bid includes a buy option, with Arsenal seeking a fee in the region of £25million.
Should the Gunners bank that figure, they would pocket a £1m profit having prised him away from Bramall Lane in 2021.
As it stands, Wolves' offer to Arsenal remains on the table.
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Though Gary O'Neil's side would cover the majority of Ramsdale's salary in their mission to tempt Arsenal into accepting.
But it is understood that Southampton remain interested in the goalkeeper - as revealed by talkSPORT last month.
And it remains to be seen whether Ajax will make a second offer for the player after having a loan bid rejected last week.
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Ramsdale made just six appearances in all competitions last campaign - and failed to play a single minute during pre-season.
He may not be the only player to depart Arsenal before the window slams shut, with Eddie Nketiah on Nottingham Forest's radar.
talkSPORT told you on Monday how Nuno Espirito Santo's side had a £25m offer knocked back.
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Talks continue between Arsenal and Forest regarding the one-cap England international, who was denied a move to Marseille this summer.
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