Wolves hit pause on £30m pursuit of Chelsea striker Armando Broja

Wolves have pressed pause for now on a £30million move for Armando Broja as they work to ensure they comply with Premier League spending rules.

The Chelsea forward is hugely admired by boss Gary O'Neil and the club's recruitment team, led by sporting director Matt Hobbs, and has been identified as a top target for the No 9 role at Molineux.

But with a week of the winter transfer window remaining, O'Neil revealed Wolves had now revised their plans due to financial concerns – though nothing can be ruled out in such an unpredictable market.

He did not mention Broja by name but Mail Sport understands Wolves were planning to make an initial loan move for the 22-year-old, with an obligation to buy at about £30m.

'We had been working on a couple of options but it looks like they won't be doable financially so it's back to other options,' said O'Neil.

'It's disappointing as we felt we were making headway but it looks like it's not doable.

'I won't just sign a player for the sake of it. We need to take people who deserve the chance to play for us and are good enough. January is tricky.

'Prices are inflated and people don't want to lose good players.'

Earlier in January the Molineux boss was optimistic at signing at least one centre-forward after allowing Sasa Kalajdzic and Fabio Silva to depart on loan but ahead of Sunday's FA Cup clash against local rivals West Bromwich Albion, O'Neil admitted the goalposts had moved.

Wolves were sailing close to the wind financially last summer, as they sold £140m worth of players to stay within spending rules.

Last summer Wolves came close to signing Che Adams from Southampton and looked at a deal for West Ham striker Danny Ings earlier in this window.

O'Neil's immediate priority is to help Wolves win