Update, Dec. 25: Atlético and Wolves have confirmed the deal in social media posts. Cunha has signed a contract to 2027 with Wolves, and the option to buy becomes a €50 million obligation if certain conditions (thought to be very attainable) are met.
We've found one more gift under the tree.— Wolves (@Wolves) December 25, 2022
Cunha also said adiós to Atlético in an Instagram post on Friday, in which he reflected on his year-and-a-half in Madrid and thanked his teammates as well as the supporters.
The original story is below.
The battle for Matheus Cunha’s signature was heating up. Everton and Wolves were linked before the latter took a definitive stride forward in negotiations and got it over the line according to Fabrizio Romano and Matteo Moretto.
The deal, soon to be completed, will be a loan with obligation to buy in the region of €40 or €50 million.
Matheus Cunha to Wolves, here we go! Full verbal agreement reached between clubs with Atléti and also on personal terms. It’s a loan with obligation to buy clause, around €40/50m. #WWFC— Fabrizio Romano (@FabrizioRomano) December 20, 2022
Medicals being scheduled while all the documents will be prepared in the next days. pic.twitter.com/m6kIkB2t0m
Atlético have decided to offload the Brazilian in January with João Félix, Felipe Monteiro and Mario Hermoso also on the exit ramp. The club has to balance the books after getting knocked out of European competition before the World Cup. They will have to deal the financial fallout both now and in the summer.
The club is planning a squad restructure, and the four players mentioned above are seen as surplus.
Cunha was signed from Hertha Berlin in 2021 and Atlético appear set to double their money on the player. He has never convinced Diego Simeone, with Luis Suárez and then Álvaro Morata preferred in attack more often than not.
Cunha did offer something different for Simeone in that he pressed with enthusiasm whenever given the chance, but it wasn’t enough to make him stand out to the coach. He played 54 times in the Atlético shirt with seven goals and eight assists.